Cardano, Bitcoin at Risk of Dropping Further Due to Bearish Flags

2022.07.15 07:30

Cardano, Bitcoin at Risk of Dropping Further Due to Bearish Flags

• BTC and ADA have consolidated at their weekly lows.
• Both coins may not have reached their bottoms yet as there are still several bearish flags present on their weekly charts.
• Recession fears may pull the prices of ADA and BTC even lower.

Cardano (ADA) and Bitcoin (BTC) have consolidated at their weekly lows since dropping from their all-time highs.

According to the crypto market tracker, CoinMarketCap, the price of BTC remains under the $20k level with its price at $19,782.44 at the time of writing. This is after its price experienced a slight 0.37% slip over the past 24 hours.

Meanwhile, ADA’s price is up slightly over the last 24 hours. At the time of writing, the price of ADA is $0.4272.

Both ADA’s and BTC’s prices have consolidated at their latest weekly lows that have been established in this year’s bear cycle.

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