Cardano’s price rally has stalled around $1.10, likely due to market consolidation following recent gains, broader market sentiment, and the measured pace of its ecosystem growth.
This pause sets the stage for a potential bullish breakout if the price surpasses $1.40, or a bearish shift if it fails to hold current support levels.
Key factors influencing Cardano’s trajectory include developments in its DeFi ecosystem, network upgrades, and notable partnerships that could enhance adoption.
Additionally, movements in Bitcoin and regulatory updates could have a significant impact on ADA’s price.
The short-term outlook hinges on these dynamics, with a breakout indicating continued upward momentum, while a decline may suggest a period of retracement.
Ryan Lee, Chief Analyst at Bitget Research
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