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ADA Price Analysis: Overall Crypto Risk-Off Sentiment Drags ADA/USD Into Consecutive Red Sessions

*The price traded at a low of $0.0170, and it is currently consolidating losses
*A sudden collapse of BTC brought ADA/USD into charting consecutive red sessions
*Charles Hoskinson discussed a brief update to Cardano (ADA) blockchain project research paper on Ouroboros Hydra

ADA/USD Daily Chart: Bearish

At last, there was a plunge beneath the level of $0.0400 and the pair traded as low as $0.0170, It is currently consolidating the losses and trading past the level of $0.0270. The extended bearish trend remained firmly intact, reaffirmed at sub-$0.0260 level by the extended reversal.

Cardano’s ADA has fallen in the last 24 hours by 32.33 percent. As the intraday now partially reverses the drop from the low level registered today at $0.01705 level, Cardano’s ADA ended the previous day at the level of $0.0234 suggesting that the pair is likely to retrace its recent fall.

Image Credit: Shutterstock

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