Increasing uncertainty in the cryptocurrency market caused Cardano (island) to refuse to to important technical levels. Is the island, is at risk to decrease to an average of 200 days, bringing the opportunity to buy long -term investors?
Risk assets were left behind a challenging week
During the week, Cardano was seriously affected by the wave of sales to dominate the cryptocurrency market. Investors have escaped risks due to increasing concerns in the economic recession in the US economy and uncertainty caused by global trade wars. In this process, the demand for US dollars and bonds increased, while Bitcoin (BTC) dropped below $ 80,000. The island also decreased under similar pressure from $ 0.80 to $ 0.63. The average movement of 200 days (200dma) is currently located at about $ 0.66. Although the island has the ability to resist permanently below this level, the technical indicators show the risk of reducing. If it cannot be held at this level, the price seems to be reduced to $ 0.40. The long -term view is still strong Although the reduced risks are dominant in the short term, the positive developments for long -term cardano investors are noticeable. Especially in the US, the reduction of uncertainty on the cryptocurrency market and the strict softening of the securities cryptocurrencies and the Securities Trading Committee (SEC) is considered a positive development for the island. The SEC's abandonment of Cardano classification is a stock that may allow the project to develop more freely in the coming years.