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I noticed an interesting point with Cardano — analysts are currently closely watching the $0.243 level. It's not just for nothing: if ADA holds this support, there could be a decent rebound of about 23% up to $0.30. Sounds like a good point to pay attention to.
But here's what is concerning: if the price closes below this level, Cardano could drop another 58% down to $0.10. It turns out that $0.243 is really a key zone where the future trend is decided. This level has previously acted as a turning point, so the history could repeat itself.
Currently, ADA is trading around $0.25, but the problem is — it lags behind Bitcoin and Ethereum. While BTC and ETH have broken through their 50-day moving averages and increased by 5-9%, Cardano has only risen by 2%. Plus, volumes have decreased, hinting at waning interest. If ADA cannot hold the support, the next fall could be serious. We are watching this level.