📉Cardano (ADA) Could Drop 15%📉

🔹December 22, 2024: The overall cryptocurrency market is struggling with a price decline, and Cardano (ADA) is facing a significant price decline due to the formation of bearish patterns on the charts. Given the mild bearish sentiment in the market, traders and investors seem reluctant to participate in the altcoin, according to Coinglass analysts.

🔻Technical Analysis: Bearish Signs
🔹 Head and Shoulders Breakdown: ADA has recently broken through a bearish head and shoulders pattern and retested the breakout level, indicating that there is a possibility of further declines.
🔹 Next Support Level: If the bearish sentiment continues, ADA could drop by up to 15% and reach the next support level at $0.80.

🔻Optimistic Signs from Onchain Data
🔹Exchange Exits: Despite bearish technical analysis, Onchain data shows that long-term holders are bullish on ADA.
🔹Over the past week, $200 million of ADA has been exited from exchanges…