Cardano (ADA) continues to trade above the 64 cents support, but the lack of volatility has led to a decline in volume, affecting market activity.
Momentum Stalls
In the past two weeks, ADA’s volatility only managed a 2% price movement. This indicates consolidation above the key support at 64 cents, but also shows a lack of momentum to push the price higher.
Buyers and Sellers are Absent
Without volatility, market participants appear to shy away from engaging with ADA. This is visible in the minimal price movement, despite consolidation, which could lead to significant moves once the balance of power shifts between bulls and bears.
Volume in Decline
The lack of volatility can be explained by a declining volume, which has been on a downtrend. Since Donald Trump’s tweet about ADA and the US Crypto Strategic Reserve, Cardano’s volume is at its lowest level since the beginning of the month.
The Cardano market is undergoing a quiet period characterized by low volatility and volumes. However, potential significant price changes may occur with shifts in market forces between buyers and sellers.
