Cardano faces challenges in maintaining price momentum
The price of Cardano is struggling to maintain momentum around $0.37, facing repeated setbacks. According to NS3.AI, weak bullish divergences in the cryptocurrency, increased selling profits from holders, and reduced demand from whales have contributed to this trend. Despite a peak in development activity, it has since weakened, leading to increased selling pressure with each rally attempt. The reduction of whale holdings further exacerbates the situation. For Cardano to achieve a sustainable upward trend, it requires stronger development support, a slowdown in sales, and a resurgence of whale purchases above critical resistance levels.
ADA
0.354
-1.47%