Cardano’s Death Cross: Bullish Momentum Waning on Hourly Chart

Recent trading activity indicates a bearish death cross for Cardano, which is currently struggling amid the broader crypto market downturn. The cryptocurrency’s hourly chart shows the significant crossover, with its price dropping from an August 17 peak of $0.987 to around $0.837 on Wednesday. This drop follows news about high July wholesale inflation figures and heightened concerns over a potential Federal Reserve rate cut in September.