Cardano (ADA) remains in a bearish phase, trading within the range of $0.87 to $1. Decreasing interest and market activity continue to impede its recovery, keeping the price below the critical $1 threshold.
Current ADA Price Situation
Cardano remains in a bearish phase, trading between $0.87 and $1. Weak investor sentiment and declining market activity continue to weigh on its recovery prospects, keeping the price under the important psychological $1 mark.
Declining Market Activity
Cardano's Daily Active Addresses (DAA) divergence indicates fewer participants interacting with its blockchain. This trend is accompanied by a sharp decline in whale activity, with large transactions over $100,000 dropping to a six-week low of 5,560 over the last 24 hours.
Outlook and Key Levels
A drop in Cardano's price below $0.87 could signal further decline to $0.77, while the $1 level remains critical for potential recovery.
Cardano faces challenges due to decreasing market activity and investor interest. The near-term levels of $0.87 and $1 will be key indicators of ADA's price direction.
