Cardano Slips Below $1.20: Will ADA's Recovery Be Difficult?

Cardano (ADA) has dropped below the critical $1.20 support level, raising concerns about its near-term trajectory. Here's what you need to know:

Key Statistics:

- ADA's decline: 16% in the last 24 hours
- Support level: $1.20 (breached) and $1 (next potential support)
- On-chain activity: Rising, with 30-day active addresses reaching 1.24 million

Market Analysis:

ADA's price has been on a downward trend, and the breach of the $1.20 support level has raised concerns about its recovery. The next notable demand zone is around the $1 mark, which could provide stability. However, indicators such as the RSI and Choppiness Index suggest a neutral stance and potential market choppiness.

Key Takeaways:

- ADA's breach of the $1.20 support level raises concerns about its recovery.
- The $1 level could act as the next support zone.
- Rising on-chain activity could be a positive sign, but market sentiment appears cautious.
- ADA's price recovery will d…

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