A brief technical and on-chain analysis on Cardano price. Here, FXStreet's analysts evaluate how ADA might retrace further.
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FXStreet Team
FXStreet
Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.
Ripple (XRP) is holding above the key $1.00 psychological support level at the time of writing on Tuesday, even as the market endures a protracted downturn that began in mid-June.
The cryptocurrency market continues to face downward momentum on Tuesday, with Bitcoin (BTC) sliding below $60,000, Ethereum (ETH) breaching the $1,600 mark, and Ripple (XRP) retreating toward its critical $1.00 psychological threshold.
The Japanese Yen (JPY) recorded its lowest level in four decades, at 162.00 against the US Dollar (USD) on Tuesday, raising concerns that the Bank of Japan (BoJ) could intervene to protect the Yen.
Bitcoin struggles around $59,500 on Tuesday after a massive two-week correction. Investors remain cautious as the US and Iran offer different signals over whether their delegations will hold direct peace talks in Qatar.
Bitcoin has remained under pressure this past week, losing over 5% as traders assess mixed signals from different parties involved in the Middle East conflict.
