The Cardano price has been closely watched since February, when ADA's long-term uptrend started. After making a series of higher highs and higher lows, ADA broke the resistance of $1.50. However, the bulls have so far failed to spark a sustained buying momentum, and the price is stuck at the same level for two weeks.

Investors are closely watching the $1.50 mark as it could decide the medium-term trend for Cardano (ADA). If ADA can break this level, then the price could continue higher as more buyers could come in. On the other hand, if the price fails to break the resistance, the bears could take control of the market, leading to a bearish reversal.

Looking at the 4-hour chart, ADA has formed a bearish divergence pattern to indicate that prices may proceed further downwards. The relative strength index (RSI) has also fallen below 50 to indicate that traders are feeling bearish on the cryptocurrency.

Despite the bearish outlook in the short-term, the long-term picture is still positive for Cardano. The coin has been on a strong uptrend since February and is up 900% since then. The price action is still in an uptrend and a break above $1.50 could open the door to further gains.

It is also worth noting that Cardano is failing to capitalize on the recent Bitcoin rally. The flagship cryptocurrency has been surging since April and is currently trading near $59,000. Bitcoin has spurred a massive rally in the altcoin market and many altcoins are posting double-digit gains.

Cardano, on the other hand, is stuck around $1.50 and Altcoins near the top of the market capitalization list have been outpacing ADA recently. This indicates that the whales are piling into higher value coins, so ADA needs to break the $1.50 resistance to show that it is still appealing.

Although the near-term outlook is bearish, the long-term prospects for Cardano remain positive. The coin has been on a strong uptrend since February and has posted phenomenal gains since then. Further, the coin has an upcoming hardfork, Shelley Testnet, which is expected to add more functionality and enhance the network's decentralization. Therefore, investors should still keep an eye on ADA with a long-term outlook.

Cardano (ADA) has had a strong market run since February, with prices rising to $1.50 and maintaining their foothold for the past two weeks. Traders have been anticipating a strong break above the resistance, however, bearish divergences and a sideways market are indicating that prices may soon go downwards. Meanwhile, Cardano has failed to capitalize on Bitcoin's recent rally, with more established coins leading the altcoin market. Despite this, the long-term outlook remains unchanged as the coin is on an uptrend and is expected to receive more improvements with upcoming Shelley Testnet hardfork. Therefore, investors should maintain an eye on the price action and wait for a pullback before entering positions.



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