Cardano (ADA) is facing significant pressure as it hovers around the $0.60 support level following a major market-wide sell-off. The cryptocurrency briefly rebounded to $0.736 but has since declined, marking a 21% drop over the past week. This downturn is part of a broader market correction that saw over $150 billion wiped from the total crypto market capitalization in just 24 hours, alongside $712 million in liquidations. The current resistance for ADA is pegged at $0.736, and a breach below the $0.60 support could lead to further declines. On-chain data indicates that the market may be entering a consolidation phase, suggesting potential stabilization after the recent volatility.
Cardano Struggles at $0.60 Support Amid Massive Crypto Sell-Off
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