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The cryptocurrency markets are not looking good right now, and Cardano is one of the coins that has struggled over the past day (ADA).
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ADA is now changing hands at $0.2629 on CoinMarketCap, down 12.17% from the previous day.
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Additionally, during the past week, the Ethereum-killer has decreased by more than 15%.
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In addition to losing ground to the dollar during the past day, ADA has lost ground to the two biggest cryptocurrencies on the market, Bitcoin and Ethereum, by around 8.66% and 5.65%, respectively.
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The altcoin's 24-hour trading volume, on the other hand, has increased by a triple-digit 150% since yesterday and is at $530,284,595.
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With a market value of $9,074,756,971, AD is now the 9th largest cryptocurrency on the market.
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As a result, the alternative currency is ranked eighth, just behind Dogecoin (DOGE), and ahead of Polygon (MATIC), which is ranked tenth.
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After printing a fresh bottom for this bear cycle, the ADA daily chart is quite gloomy.
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The daily RSI line has fallen into extreme oversold territory as a result of the most recent 24-hour price decline.
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The 9-day EMA line has separated below the 20-day EMA line, while the RSI line has entered extremely bearish territory.
Image credit- google images