Cardano at a Crossroad: Consolidation or Reversal?

Cardano Long-term Analysis: Ranging

The market for Cardano against the Tether is navigating a critical juncture. However, after a strong bullish run in late 2024, the pair’s price suggests the pair is currently in a consolidation phase, reflecting a market indecision and as pair's price oscillate close to $0.7974.

Recently, the candlesticks formation show tight ranges with long wicks, indicating a closely matched buying and selling pressure. To this end, the current uptick in price, the tightening of the Bollinger bands, and the behavior of the Stochastic RSI hint at a potential upside breakout ahead.