Cardano's price has dropped, while trading volume has increased, indicating market uncertainty. Despite potential pullbacks, a crypto analyst predicts a bullish move. Key indicators suggest that ADA may soon break out of its consolidation phase.

Volatility and Trading Volume Rise

In the past 24 hours, Cardano ($ADA ) has experienced high volatility. According to data from CoinMarketCap, ADA is currently trading at $0.3513, a decrease of 0.94% compared to the previous day. However, investors remain active, as demonstrated by the rising trading volume, which has surged by 20.02% to $247,810,216, despite a 1.20% drop in market capitalization to $12,272,473,227.

The discrepancy between declining market capitalization and rising trading volume is a sign of high market volatility. Currently, Cardano ranks 11th in terms of market capitalization, with a total supply of 44,995,152,754 ADA.

Price Movement and Declining Investor Activity

Charts show that ADA initially spiked to a resistance level of $0.3642 before retreating to its current price. Investor engagement has decreased over the past 24 hours, as reflected in market activity.

Bullish Rally Predicted for Cardano

Despite concerns about a potential pullback, investors remain optimistic. Notable crypto analyst Crypto Winkle shared his analysis of ADA's daily charts and expressed high expectations for the coin's future performance.

According to his analysis, investors should be aware of a possible short-term decline, but he expects the price to rise with strong bullish momentum. In his analysis, he highlighted key technical indicators, such as the RSI, which sits at 45 – a consolidation phase that he believes creates perfect conditions for growth.

Technical Indicators Point to Growth

The MACD (Moving Average Convergence Divergence) also shows positive momentum, as indicated by the green histogram. This signal suggests that the market is gearing up for upward momentum, and Cardano could soon enter a #BullishRally .

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