Cardano fell to its lowest level in weeks on March 2 as cryptocurrency prices fell mostly in today’s session. The global market cap fell mostly on Thursday, trading 1.71% lower at the time of writing. Cosmos is also in the red, with prices retreating to key price points.
Cardano (ADA
Cardano (ADA) fell to multi-week lows on Thursday as prices collided with a key support point.
ADA/USD plunged to an intraday low of $0.3501 in today’s session, following Wednesday’s high of $0.3637.
As a result of this move, the Cardano traded just above the $0.3500 floor, its weakest point since February 13.
The chart shows that one of the triggers for the move was the crossover of the 10-day (red) and 25-day (blue) moving averages downwards.
In addition to this, the Relative Strength Index (RSI) failed to break above the 45.00 ceiling.
At the time of this writing, the RSI is hovering at 41.68 and appears to be headed for a floor of 40.00.
Cosmos (ATOM)
Additionally, Cosmos (ATOM) also fell into the red as prices retreated to recent lows.
Following Wednesday’s high of $12.91,ATOM/USD fell to a low of $12.26 earlier in the session today.
The move pushed the token below its long-term support point of $12.30, approaching a six-week low in the process.
Overall, the Cosmos has fallen more than 10% over the past 7 days, as the RSI continues its decline toward the 40.00 floor.
At the time of this writing, the index is hovering at 40.99, which is near its weakest point in the last two months.
In the unlikely event that price strength reaches our target floor of, ATOMwill likely trade near the $12.00 mark.
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