Cardano (ADA) is currently trying to maintain support at the $1 level amidst increased volatility in the crypto market. Despite a recent drop of 3.22%, Cardano has shown impressive returns, with a market capitalization of $36.70 billion and a strong trading volume of $3.71 billion. On-chain data indicates a surge in active addresses, suggesting growing user engagement and fueling bullish sentiment. The MVRV Long/Short Difference metric suggests ADA could rally another 30% before facing significant selling pressure. If ADA can hold the $1 support, it may push towards $1.20, but failure to do so could result in a drop to $0.90 or lower. Market conditions and the ability to maintain support will determine ADA's near-term trajectory.



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