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ADA Price Prediction: Negative Sentiment Brings Sub-$0.340 into View
This morning, ADA had early relief. To alter the pessimistic narrative, however, network upgrades will need to demonstrate a significant rise in new projects.
ADA dropped on Wednesday by 3.31%. Tuesday saw ADA lose 2.95% of its value, closing the day at $0.350. Notably, ADA dropped to a new session low for 2022 of $0.347 and finished the session below $0.40 for the ninth session running.
ADA fell during a bearish Wednesday session, dropping from an early high of $0.362 to a low of $0.347 in the dying minutes. At $0.355, ADA was below the First Major Support Level (S1). However, ADA concluded the day at $0.350 after finding support at the Second Major Support Level (S2) of $0.347.
The future of ADA was left up to the wider crypto market since there were no network upgrades to provide guidance.
Network Updates Put ADA at the Mercy of Cryptocurrency Investor Attitude
On Wednesday, there were no network upgrades to alter investor perception of ADA. After the Vasil hard fork on September 22, the weekly development reports from Input Output HK continue to be disappointing.
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