Cardano hit an all-time low on Friday. Crypto market sentiment remained bearish during today’s session. The token fell for the third day in a row, with the price falling below the major price floors in the process. Polygon also extended its recent decline to a multi-week low.
Cardano (ADA)
Cardano (ADA) was the cryptocurrency market’s sentiment in the past in today’s session. It hit a record low and remains bearish following recent economic data.
ADA/USD less than a day after trading at $0.3026 and earlier in today’s session he hit an intraday low of $0.2845 fell.
Today’s sell-off is Cardano’s third consecutive drop, breaching a key support point in the process.
Looking at the chart, the aforementioned lower bound is at the $0.3000 mark, which The
14-day Relative Strength Index (RSI) has also broken below the lower bound of 35.50, tracking 30.91 at the time of writing.
This was his lowest index since Oct. 22, when the price bottomed out at $0.3100.
Polygon (MATIC) and
Polygon (MATIC) are other notable tokens that fell today as well, with prices dropping for the third day in a row.
Following Thursday’s high of $0.891, MATIC/USD fell to a low of $0.8483 earlier in the day.
As a result of this drop, the polygon moved to its lowest point since November 30 when price bottomed out at $0.837
MATIC has since rebounded from its previous lows and is currently trading at $0.8569, nearly 4% below Thursday’s floor.
This slight rebound came when the RSI denied his support point breakout at the 43.00 level, with the index now at the 44.26 mark.
Historically, the bulls have used this floor as a reentry point, and if this recurs, MATIC could return to his $0.90 level.
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