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Cardano (ADA) Attempts to Reverse Recent Losses, But Faces Resistance at $0.3

The writer's opinion is presented and it is not financial, investment, trading, or other types of advice. ADA has dropped below January lows and retested December lows, while Bitcoin has dropped to $25k again, exposing altcoins to more price dumps. ADA declined over 30% on the weekly front, but there was an attempt to reverse recent losses in the past 24 hours.

ADA's price was up 9% in the past 24 hours and a dovish FOMC stance on the 13/14 June meeting could tip bulls to gain more ground. However, the likely rally could be a bull trap if BTC falters at $26.6k and fails to flip to a bullish bias on the higher timeframe.

Bitcoin Bitcoin $94,648.10
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