Cardano Price Analysis: Can ADA Break Through Resistance and Rise 20%?

Cardano (ADA) is currently struggling to regain momentum as heavy selling pressure from whales continues. A recent sell-off saw 320 million ADA traded, pushing the price lower. Breaking through the $0.37 resistance level is critical for a potential 20% rally. However, if bearish sentiment persists, consolidation near $0.31 is more likely.

The current market sentiment is characterized by uncertainty and volatility. While some analysts remain optimistic about Cardano’s long-term potential, others are cautious due to the recent selling pressure. It remains to be seen whether ADA can overcome the current headwinds and regain its upward trajectory.

The key takeaway is that breaking the $0.37 resistance level is crucial for Cardano’s price to see a significant upward movement. If the selling pressure persists and the price consolidates near $0.31, it may indicate that a more extended period of sideways trading is in store. Investors and traders should carefully monitor market sentiment and price action to make informed decisions.