Cardano (ADA) price is among the worst performers in the altcoin community, stuck within a range for around two weeks that has ADA stunted and moving
Cardano price continues to lag, trading sideways and living below $0.26 for almost two weeks as altcoins move north. Although momentum is rising, ADA downside potential remains high with a 5% slump in sight toward the floor price of $0.2397. A break and close above $0.26 would invalidate the bearish outlook. horizontally. The price action is unorthodox considering the network’s total value locked reflects a positive surge from decentralized applications.
2692 needs to be broken. Meanwhile, the Relative Strength Index remains below the 50 level, alongside a lagging Awesome Oscillator that remains in the negative territory. With this, the odds favor the downside. Increased selling pressure could see Cardano price drop 5% to retest the floor price at $0.2397. In the dire case, the slump could extend for ADA to sweep buy-side liquidity below the aforementioned level.
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