Cardano's price experienced a decline of 2.5% on March 11, trading at $0.7250, with further downturns anticipated. The broader cryptocurrency market, including Bitcoin and Ether, also faced losses, as Bitcoin fell over 3.6% and Ether dropped below $2,000. This overall bearish sentiment adversely affected altcoins like Cardano, which saw a 41% decline over the last 90 days compared to Bitcoin's 19%. Contributing factors include reduced network activity, a significant drop in daily trading volume, and the total value locked (TVL) in Cardano, which decreased substantially. Additionally, the relative strength index (RSI) indicated overbought conditions for ADA, leading to potential profit-taking by traders. The anticipated support levels for ADA are between $0.6472 and $0.5794, with a demand zone that may attract late investors. The current market is further challenged by macroeconomic factors and ongoing bearish trends.

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