Cardano price showed strong performance in the last two weeks surging from lows of $0.3 to $0.36. The long bottom wick on last week’s candle shows bulls were in charge of the market and pushed on their buying campaign into this week. However, despite the gains, the price of ADA still risks a drop to $0.2, as macro technical analysis indicates. Will bulls be able to avert this crash?
Reasons Why Cardano Price Could Crash
Cardano network has tried to remain up, but the project faces heavy criticism from most crypto community for taking so long to make a substantial move. Some reasons ADA price could drop to $0.2 include:
Increased transactions per section (TPS) with reduced transaction count.
Consistently dropping total value locked since March 2024 highs.
Reducing daily active users with stagnant network density
1. Surging TPS, Falling Usage
A dive into Cardano network activity reveals the blockchain needs help onboarding users despite building the capacity to scale and handle many pe
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