Cardano (ADA) has been trapped in a descending channel for five months, but it is showing signs of a potential breakout. However, recent whale investor selloffs have caused uncertainty about the future of the altcoin. Despite this, the broader market sentiment remains cautiously optimistic, and Cardano continues to display strong momentum. There is potential for ADA to break out of the descending channel, with a key resistance level at $0.37. If this level is flipped into a support level, ADA could experience a 40% rise, reaching a target of $0.51. However, if the breakout fails, Cardano may retest the $0.34 support level and potentially drop to $0.31.



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