Cardano (ADA) witnessed a 25% surge, initially breaking the upper line of a descending triangle pattern, sparking Optimism for a return to a two-year HIGH of 1.32 USD. However, recent days have seen a waning in buying pressure, causing ADA’s price to consolidate within a narrow range of 1.05 USD to 1.11 USD.
The Aroon Up line’s decline indicates weakening bullish momentum, suggesting a potential price drop towards 0.94 USD if support at 1.05 USD is breached. Conversely, a positive shift in market sentiment could see ADA break past the resistance level at 1.11 USD, aiming to reclaim its two-year HIGH of 1.32 USD.
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