Cardano is once again at risk; will the ADA price extend its accumulation beyond the limits?
The erratic behavior in the crypto market continues, as numerous crypto assets quiver after breaking through critical resistance. In the last few days, most cryptocurrencies, including Bitcoin, Ethereum, Cardano, and others, have surged beyond critical resistance levels and soon became fatigued. Furthermore, the ADA price is currently expected to fall back below critical levels, indicating a probable downturn.
Cardano pricing has been rather quiet since the asset shattered its highs soon before the Alonzo hard fork. Even the deployment of smart contracts on the platform failed to raise the price by a significant margin. As a result, the asset has been instilling minute leaps and corrections since then, but appears to be designed to be constrained within tight ranges.
The ADA price has now been denied at $1.2, which it has been attempting to break for about a month. Furthermore, the asset exhibits the possibility of tumbling again and sliding into the same consolidation once more.
The ADA price is staying on one of the key support levels all the way down to $1.1, and despite a definite rise, the asset is consolidating along this line. Because the selling volume looks to be rather large, the chances of the asset falling towards the lower…
