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The crypto community breathes a sigh of relief as the market recovers. Cardano (ADA) struggles even as Solana (SOL) turns green. Everlodge is confident of its bullish position during the presale.

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Cardano (ADA) Suffers Due to Selling Pressure

Data shows high selling pressure is affecting Cardano’s (ADA) price. Cardano’s token stayed well below the $0.28 mark for an entire month. Furthermore, Cardano fell to $0.2379 last week before gaining a slight upward movement.

Cardano is at $0.2507, at press time, registering a 7.20% loss for the month. Fortunately, the weekly graph is green, and shows a gain of 1.50%. With Bitcoin (BTC) recovering, most cryptocurrencies have started to push upward. While Cardano is no exception, the token is still in a weaker position.

Cardano’s TVL (total locked value) has grown in the first half of 2023, but declined since July. According to on-site data, Cardano (ADA) recorded a 30% decline in TVL since July due to decreased network activity. Unsurprisingly, Cardano’s prediction remains bearish. Cardano can turn the tide by crossing $0.40. This can be possible if Bitcoin breaks through the $31,000 mark soon.

Solana (SOL) Looks to Strengthen its Position

Like other cryptocurrencies, Solana (SOL) is also in the recovery mode. The price crossed $20 twice this week, though Solana is trading at $19.89 at press time. There’s been

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Author: Crypto Daily

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