🔄 ADA remains range-bound, with $0.66 acting as strong resistance. Despite occasional bullish moves, Cardano has struggled to maintain momentum and remains stuck in a bearish trend since early 2024.
🌍 Global tensions and regulatory uncertainty continue to weigh on ADA’s price action. Even after losing over 60% from its recent peak, Cardano shows little sign of a strong reversal, largely due to Bitcoin’s market influence.
📊 The price is trapped in a falling wedge, with Bollinger Bands tightening. So far, each expansion has led to downside pressure. The CMF also remains below 0, highlighting weak market demand.
📉 If bearish pressure continues, ADA may retest support near $0.55. Low volume lowers the odds of a strong rebound. However, a breakout above the Bollinger average could send the price past $0.70, and possibly toward $0.80 or even $1.
⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
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