Cardano\u2019s native token has been on a tear over the past several days, but its rally stalled today (August 26) as the broader market pulled back a bit.<\/p>\n
While most analysts remain bullish on the asset, some believe a double-digit decline from the current levels could also be on the horizon.<\/p>\n
ADA has soared by 22% over the past two weeks, following the market\u2019s revival prompted by the monetary changes announced<\/a> by the US Treasury Department, among other factors.<\/p>\n At one point, the asset rocketed to a three-month high above $0.25, but the past 24 hours have delivered a correction. As of press time, ADA trades at around $0.21, representing a 6% decline on a daily scale and is among the biggest losers within that timeframe.<\/p>\n X user SBlockSpy noted<\/a> that the token got rejected around $0.22 and is closely monitoring the pullback. They claimed that the move shows sellers are active and predicted a deeper downtrend to as low as $0.164 if the dump continues. At the same time, the analyst believes that if buyers step up here, they might trigger an initial surge to $0.24, then $0.30.<\/p>\n Rand Group also recently chipped in. Earlier this week, the X user highlighted<\/a> ADA\u2019s strong breakout, claiming it has breached the main downtrend resistance. However, they remain uninterested in the asset until it consolidates above the $0.25 resistance.<\/p>\n For their part, More Crypto Online cast doubt on whether a certain \u201cB-wave\u201d pullback has begun, adding<\/a> that as long as ADA holds above $0.157, the upside momentum remains and could push the price to the $0.314-$0.404 range.<\/p>\n It is important to note that other popular X users stand firmly on the bullish side. Earlier this month, Lucky told<\/a> their nearly two million followers that ADA is among their \u201chot picks,\u201d envisioning a short-term ascent to almost $0.50. The last time the token traded that high was in November last year.<\/p>\n CW is another optimist. The analyst opined<\/a> that ADA has broken through a major resistance line and transitioned into a bullish trend.<\/p>\n \u201cThe long downtrend is over. The real bull market has begun,\u201d they added.<\/p>\n The post Cardano (ADA) Slips 6% in 24 Hours: Healthy Correction or the Return of the Bears?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Cardano\u2019s native token has been on a tear over the past several days, but its rally stalled today (August 26) as the broader market pulled back a bit. While most analysts remain bullish on the asset, some believe a double-digit decline from the current levels could also be on the horizon. Bulls vs. Bears ADA […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-218662","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/218662"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=218662"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/218662\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=218662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=218662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=218662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Entirely Optimistic Forecasts<\/h2>\n