The post Cardano’s ‘Dead Cat Bounce’ Eyes Key Level, What to Watch appeared on BitcoinEthereumNews.com. The crypto market is experiencing a sell-off early Tuesday after a historic round of liquidations that triggered a sharp sell-off over the weekend, as trade tensions weighed on risk assets. The recent sell-off has pulled the combined market value of all cryptocurrencies down by more than $150 billion over a 24-hour period, according to CoinGecko data. In the last 24 hours, $712 million have been liquidated across crypto assets, according to CoinGlass data. Earlier, about $19 billion of leveraged crypto positions were liquidated following a brutal sell-off on Oct. 10. The crypto market briefly rebounded to pare losses on Monday, but most major cryptocurrencies have now resumed their descent. According to Glassnode: “The market now enters a consolidation phase, one defined by renewed caution, selective risk-taking, and a more measured rebuilding of confidence across both spot and derivatives markets.” Cardano’s dead cat bounce eyes $0.60 Most major cryptocurrencies rebounded from steep losses suffered over a brutal weekend sell-off, including Cardano. ADA/USD Daily Chart, Courtesy: TradingView Cardano fell to a low of $0.61 on Oct. 11 in a three-day drop before rebounding. Cardano bounced off this low, rising for two straight days to $0.736 on Oct. 13, which attracted resistance from the bears, rendering Cardano’s rise effectively a dead cat bounce. While lower levels attracted strong buying by the bulls, sellers posed a strong challenge at $0.736, suggesting that bears might still be in control. If selling continues, Cardano could drop to $0.60 and then $0.50. This negative view will be invalidated in the near term if the Cardano price reverses higher and breaks above the daily moving averages of 200 and 50 at $0.833 and $0.741. At press time, Cardano was trading down 5.26% in the last 24 hours at $0.67 and down 21% weekly. Source: https://u.today/cardanos-dead-cat-bounce-eyes-key-level-what-to-watchThe post Cardano’s ‘Dead Cat Bounce’ Eyes Key Level, What to Watch appeared on BitcoinEthereumNews.com. The crypto market is experiencing a sell-off early Tuesday after a historic round of liquidations that triggered a sharp sell-off over the weekend, as trade tensions weighed on risk assets. The recent sell-off has pulled the combined market value of all cryptocurrencies down by more than $150 billion over a 24-hour period, according to CoinGecko data. In the last 24 hours, $712 million have been liquidated across crypto assets, according to CoinGlass data. Earlier, about $19 billion of leveraged crypto positions were liquidated following a brutal sell-off on Oct. 10. The crypto market briefly rebounded to pare losses on Monday, but most major cryptocurrencies have now resumed their descent. According to Glassnode: “The market now enters a consolidation phase, one defined by renewed caution, selective risk-taking, and a more measured rebuilding of confidence across both spot and derivatives markets.” Cardano’s dead cat bounce eyes $0.60 Most major cryptocurrencies rebounded from steep losses suffered over a brutal weekend sell-off, including Cardano. ADA/USD Daily Chart, Courtesy: TradingView Cardano fell to a low of $0.61 on Oct. 11 in a three-day drop before rebounding. Cardano bounced off this low, rising for two straight days to $0.736 on Oct. 13, which attracted resistance from the bears, rendering Cardano’s rise effectively a dead cat bounce. While lower levels attracted strong buying by the bulls, sellers posed a strong challenge at $0.736, suggesting that bears might still be in control. If selling continues, Cardano could drop to $0.60 and then $0.50. This negative view will be invalidated in the near term if the Cardano price reverses higher and breaks above the daily moving averages of 200 and 50 at $0.833 and $0.741. At press time, Cardano was trading down 5.26% in the last 24 hours at $0.67 and down 21% weekly. Source: https://u.today/cardanos-dead-cat-bounce-eyes-key-level-what-to-watch