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.