Cardano’s price has experienced a significant downturn, dipping below the $0.60 mark. This decline comes after an April 13 high of $0.668 and marks the fourth consecutive day of losses for ADA. The overall market sentiment has been bearish as witnessed by Bitcoin and other major cryptocurrencies experiencing a drop exceeding 3%. Cardano’s price drop to around $0.60 signifies a roughly 10% decline from its recent peaks. This correction coincides with general market uncertainty, prompting investors to sell riskier assets. 
Despite the current slide, there is hope for ADA’s recovery. Some traders have been accumulating at lower levels, potentially forming the foundation for a rebound. However, significant resistance is present in the form of daily moving averages (50 and 200) hovering around $0.708 and $0.746. If ADA manages to break through this resistance, it could signal a positive trend shift.