The price of Cardano (ADA) has struggled to recover and invalidate a previously anticipated bullish pattern. Market conditions indicate that an immediate rebound is uncertain, with sellers maintaining control. There is over $4.66 million worth of ADA at risk of liquidation if the price rebounds, suggesting bearish traders are betting on further declines. Technical indicators show extreme selling pressure and an oversold RSI, but Cardano has not capitalized on these conditions in the past. The price has dropped by 25% over the past week and is now trading at $0.71, with concerns about its ability to recover in the near term. Without a decisive move above $0.77, the price is likely to remain range-bound between $0.70 and $0.77. A breakout above $0.77 could trigger a potential rally to $0.85 and eventually $1.00, but without this breakout, Cardano's upside potential remains limited.



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