Cardano’s price recovery may be unlikely anytime soon – here’s why!

Cardano (ADA) has been on a downward trend since late May after its April-May rally. Current market dynamics show that ADA’s price has reclaimed past lows but subsequently continued to decline.

There is growing concern among long-term ADA holders due to declining developer activity and selling pressure. Recovery attempts will likely encounter significant resistance as holders look to exit for breakeven or small profits.

With targets set around $0.51 and lower, any bullish signs in the market are overshadowed by strong selling pressure. A reversal in the current bearish trend is uncertain without a significant increase in demand.