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Cardano (ADA) faces increasing bearish pressure amid a weakening consolidation pattern.
Market analyst GainMuse warns that if the current support fails, downward momentum could push ADA toward the lower trend channel at $0.26.
Per CoinGecko data, ADA is trading at $0.27, highlighting the tension between short-term support and rising selling pressure.
Nevertheless, Cardano adoption is gaining traction, with ADA now accepted at 137 Spar stores across Switzerland, signaling growing real-world utility.
Cardano Under Pressure as Charles Hoskinson Warns of Growing Market Fear
Well, this technical caution unfolds amid broad market pessimism. Cardano founder Charles Hoskinson recently remarked on a YouTube podcast that in his 15 years in crypto, he has never seen such pervasive fear and uncertainty in the market.
Hope is waning in the digital asset space, Charles Hoskinson noted, as market sentiment turns sharply negative.
For instance, major cryptocurrencies have suffered steep losses. Bitcoin, for example, plunged from $126,200 in October to $60,000 by February, highlighting the severity of the ongoing market retracement.
Meanwhile, all hope is not lost because Cardano recently entered a key demand zone, and with total value locked (TVL) hitting a 13-month high, the stage may be set for the next bullish leg.
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Source: https://zycrypto.com/hope-not-lost-for-1-cardano-even-as-hoskinson-acknowledges-worst-crypto-sentiment-ever/
