Cardano (ADA) has been stuck in a consolidation phase since August and has struggled to sustain upward movement. The market sentiment shows that short-term holders are currently in profit, which may lead to increased selling pressure and hinder price stability. Technical indicators, such as the MACD, have signaled a shift in momentum to bearish, suggesting that Cardano may face further resistance. The price of ADA has dropped by 10% and is currently below the crucial support level of $0.33. If ADA remains range-bound, it is likely to trade between the $0.31 support and $0.33 resistance in the short term. A breakthrough above $0.33 would indicate a stronger uptrend.



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