But some analysts argue this decline may be the calm before a storm—of the bullish kind.
One trader, known as Crypto King, sees a promising setup on the chart. ADA’s price is coiling within a symmetrical triangle, a formation often signaling an explosive move once the range breaks. If buying pressure kicks in, he expects a sharp rally toward $1.60.
Supporting the case for a bounce is the recent cooling in market leverage. Over $6 million in long positions have been flushed out in the past 48 hours, easing pressure and clearing space for a healthier price run.
Meanwhile, founder Charles Hoskinson remains optimistic about ADA’s potential to eventually surpass Bitcoin’s performance, even as the token struggles short-term.
While momentum is uncertain, technical signals and on-chain shifts suggest Cardano’s next move could be much stronger than today’s price would suggest.
The post Cardano Faces Turbulence, But Bulls Still See a Breakout Ahead appeared first on Coindoo.
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