Cardano Technical Support Tagged, Here Is The Next Level

Cardano has fallen nearly 40% from its March 2024 highs. However, last Friday it did hit technical support at $0.47. As of now, Cardano has bounced and is holding support. However, should risk off in altcoins continue, the next major support is at $0.38.

Altcoins are the first to fall when investors get scared. The fear usually starts in stocks and spreads to crypto quickly. Also, it has been noted that crypto performs well when the VIX (fear index) is below 15, but when it gets above, investors need to be very careful.