Analyzing Cardano's current market situation, it appears that the currency is stabilizing within a bearish trend. On-chain indicators suggest that there has been no major deterioration in the fundamental demand for ADA and other crucial projects built on the Cardano network. Rather, transaction volumes on the network have been steadily increasing, and a cohort of whales with balances of one million to ten million ADA have marginally added to their holdings. This mild accumulation trend points to confidence in the underlying technology of the Cardano ecosystem. Aggregate order books of prominent crypto exchanges show that the demand for Cardano has now surpassed the market supply, leading to speculation of a price rebound in an imminent future. This could see the currency rising to the 10% mark, potentially making a 30% rise above current prices. However, should the support level not hold, ADA could experience a further slide of 15% before the next buy wall comes to its rescue.



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