🚨Cardano (ADA) Faces Contradictory Trends! 🚨
Massive Volume Surge, Price Stalls:
👉 Trading Volume Boost: Cardano has seen an incredible 150% surge in trading volume over the last 24 hours, now reaching about $477 million (up from $358 million).
👉 Price Action: Despite this volume spike, ADA’s price has actually declined by 4% in the same period, currently at $0.3351—89% below its all-time high of $3.09.
🔍 Volume Surge Insights:
- CoinGlass Report:Cardano’s trading volume has soared, but this has yet to impact the price positively.
- Recent Declines: ADA has faced losses of 4.1% over the past 24 hours, 10% in the last two weeks, and a notable 30% in the past month.
🔮 Potential for Price Recovery:
- Analyst Perspective: Crypto analyst “Trend Rider” suggests there’s hope for ADA. The key level to watch is $0.69, which could signal the beginning of an uptrend. Historical data shows ADA surged from $0.02 to $3 after breaking above this level.
- Resistance Levels: ADA faces resistance at $0.3538 and has been trading below its 50-day and 200-day EMAs since April. For a short-term uptrend, ADA needs to surpass $0.3856, where the 200-day EMA is located.
📉 Current Status: ADA remains at $0.3351, showing ongoing struggles despite the volume surge.
