Cardano Price Support in Peril as Robinhood Delists ADA

Coinscreed
Coinscreed

28 Jun 2023 12:08 PM

As a result of delisting Cardano, SOL, and MATIC on Tuesday, the leading trading app Robinhood triggered a minor sell-off....

  • Robinhood's delisting of Cardano (ADA), Solano (SOL), and Polygon (MATIC) caused a minor sell-off.
  • The SEC's assault on the cryptocurrency market led to an investor exodus and lawsuits against Binance and Coinbase.
  • Cardano's price has declined from $0.45 to $0.22, and sustaining a reversal above $0.30 is challenging.
  • Robinhood users can still trade 15 other cryptocurrencies despite the delisting.
  • Technical indicators suggest a bearish position for Cardano, with resistance at $0.30 and potential losses targeting $0.22.

The sentiment of the article is negative, as it highlights the decline in Cardano's price and the challenges it faces due to delisting and regulatory actions.

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You May Ask

What cryptocurrencies were delisted by Robinhood?Why did the SEC file lawsuits against Binance and Coinbase?What is the current price of Cardano?What are the resistance levels for Cardano's price?Can Robinhood users still trade cryptocurrencies despite the delisting?

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