For more than a week, the crypto space has been taking a dig. The tremendous fall of Bitcoinmay be the cause of weekly bearish modes.
BTC has been trading below the $10,000 level lately. The dip has affected many altcoins including Cardano. ADA has recorded a bearish outlook over the past one week on a 4hr time frame.
The price failed to break above the major resistance level near $0.052694. Subsequently, a struggle to break below $0.048446 was seen. This was successful later on. On 28 August as at 16:00 UTC, a sharp drop later followed where it rallied at a low of $0.043756 that touched the lower descending channel.
News resources: thecoinrepublic
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