Cardano struggles near $0.90 support, but RSI hints at potential price rebound.
Increased trading volume signals investor activity despite bearish ADA price action.
Breaking $1.10 resistance could mark bullish momentum for Cardano in 2024.
Cardano (ADA) is mirroring its 2020 trends, prompting discussions about possible bullish targets between $4 and $6. Despite recent struggles, ADA’s historical patterns and technical indicators suggest a potential turnaround.
At press time, Cardano trades at $0.9555, reflecting a sharp 14.7% decline over the past 24 hours. This increased market activity, marked by a 104.94% spike in trading volume, highlights significant investor engagement during the sell-off. Key support and resistance levels, along with technical signals like RSI and MACD, will play a critical role in shaping ADA’s short-term trajectory.
Steep Drop Raises Investor Caution
Cardano has seen a steep drop from its recent high of $1.20 to $0.9555, due to strong selling pressure, significantly reducing its market capitalization and denting investor confidence.
Despite this bearish trend, the price could find immediate supp…
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