Cardano Technical Analysis: Crypto Chart Insights

Cardano has struggled of late, dropping 43% off its March 2024 highs. Altcoins overall have seen steep declines as the risk-off trade in all assets has popped up.

Based on technical analysis, Cardano continues to look weak. While it is holding its recent lows at $0.425, any sort of break sends it to $0.35.

At $0.35, Cardano hits multiple trend lines of support. This would be a high probability level for a significant bounce and potential change in trend.