Cardano Remains Distinct from the Global Crypto Trend as It Fails to Attract Traders' Interest over the Rally

This may prevent the token from experiencing the required price variation, preventing the bulls from reviving a strong ascending trend

Cardano price analysis showcases a unique scenario as the token fails to gain traders' attention despite the global crypto rally. This lack of interest may hinder ADA from experiencing significant price variation, preventing the bulls from establishing a strong ascending trend.

As we analyze the daily Cardano price chart, a peculiar observation emerges. The token's price action during the 2022 bear market and the current rally seems strikingly similar. This price behavior may indicate that the bears are attempting to mark the bottom of the rally, shifting the focus back to the market participants. Interestingly, these bottoms are gradually extending, presenting the possibility of ADA slipping below the $0.3 price mark.

Meanwhile, the bulls are making valiant efforts to defend this crucial support level, attempting to sustain hopes for a bullish trend.

After Cardano price dropped from the yearly highs just above the $0.75 level, traders appear to have shifted their attention away from the token. This is evident in the active address count, which signifies the number of trades (buy, sell, or swap) placed in a day. The count has been plummeting drastically, indicating a massive drop in trading activity. This lack of volatility may have prevented fresh liquidity from entering the platform.

The active address count has been slashing hard with a huge drop in the price and volume. Hence the token is believed to remain less volatile which may keep bulls and bears extremely passive. Besides, the unique wallets or the wallets which have transacted at least once a day have maintained a steep ascending trend since the crypto broke out of the consolidation in Q3 2024.

A closer examination reveals that traders are performing trading activity, but the volume is remaining within a limited range. This could be the reason why the price continues to remain restricted within the range. Moreover, the price is extending the pattern which suggests both the bulls and the bears have failed to exert the required pressure which could have either triggered a steep rise or a significant fall.

As we move forward, it will be interesting to see whether ADA price will never reach $1 or if there’s still hope for the token to hit the milestone.

After breaking above from the falling wedge, the ADA price retraced back to the resistance-turned-support levels. However, instead of triggering a bullish rebound, the Cardano price is hovering within a narrow range, waiting for the bulls to act. Notably, there has been no major change in the RSI, which has been grounded within the lower price zone, while the MACD displays a slight rise in the buying pressure.

Although the buying volume remains below the required range, the change in the market trend may have a huge impact on the ADA price rally in the coming days

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