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Cardano ( $ADA ) Price Drops Over 3% on June 19 Amid SEC Crackdown and Fed's Hawkish Guidance

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June 19 (Cointime) - Cardano's (ADA) price has dropped by over 3% on June 19, following a 30% decline in the past two weeks. This has led to concerns that ADA may experience its fourth consecutive weekly decline. The recent mention of Cardano on the US Securities and Exchange Commission's list of "unregistered securities" has contributed to the decline, as has the Federal Reserve's hawkish guidance.

The drop in open interest in ADA-linked derivatives and the decline in bullish traders' positions have also added to the downward pressure on ADA's price. Technical indicators suggest that ADA may experience an extended consolidation or recovery period, with a possible target of $0.30 in the coming weeks. However, a descending triangle breakdown scenario may result in a 12% decline towards $0.226. This article does not provide investment advice, and readers should conduct their own research before making any investment decisions.

Cardano Cardano $0.64
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