The price consolidation of $ADA highlights a narrow trading range from $0.87 to $1. This reflects waning recovery prospects. Analysts warn that a drop below $0.87 could direct the price to $0.77. This would be a significant loss for current holders.

However, overcoming the threshold of $1 could revive confidence. Historically, $1 has been a critical resistance level for Cardano. Surpassing it could negate the bearish trend. This recovery will require significant buying pressure and support in the market as a whole.

Meanwhile, Cardano is currently trading at $0.9186, having increased by 2.1% over the last 24 hours. This has reduced its downward trend to 9.9% and 13.9% over the last week and month, respectively. In comparison, Bitcoin has shown a growth of 4.3% in the last day, reducing its weekly losses to 5.5%, as it trades at $98,083.$BTC $BNB #币安Alpha公布第6批项目代币 #BtcNewHolder