Cardano (ADA) 15% Rise Could Be Heading for a Stalemate – Here’s Why

The declining holding period for Cardano indicates a decline in investor commitment, which could weaken the recent 15% rally. The 134.26% decline in the Price-DAA index reflects declining user activity on the Cardano network and weak support. If the bearish momentum continues, ADA could drop to $0.98. If there is a bullish reversal, the coin could target $1.33 and possibly $2.

💡 Quick Look: When the indicator is positive, the momentum is bullish. However, in this case, the MACD reading is negative, indicating that the momentum around the coin is bearish. Given the current situation, it may be difficult for ADA to continue the rally that took it to $1.16. In this scenario, the price of ADA could drop to $0.98. However, if the momentum turns bullish, it could pave the way for a rally to $1.33 and possibly a move towards $2.