The rise on Monday above the initial cap at the mid-May high

The rise on Monday above the initial cap at the mid-May high of 27675 has reduced the downward pressure somewhat. However, unless BTC/USD clears the 30000 mark, the path of least resistance is sideways to slightly down.

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86,800.18

+0.42%

HIGH

0.211

-1.40%

1.4k

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BTC/USD has managed to hold above quite strong converged support around 25300-26000

He also drew parallels between the current consolidation period and the previous Bitcoin halving cycles.

Towards the end of the video, Gambardello briefly discussed potential scenarios for ADA’s price action, noting the possibility of both a bullish breakout and a consolidation phase.

He also stated that Cardano was finally proving its potential and entering a new phase, the DeFi phase, where all coins launching on the platform could experience rapid growth.

While the analyst acknowledges that there are no guarantees in the volatile world of cryptocurrencies, he expressed enthusiasm for the current momentum building around Cardano.

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.css-1iqe90x{box-sizing:border-box;margin:0;min-width:0;color:#EAECEF;}The rise on Monday above the initial cap at the mid-May high of 27675 has reduced the downward pressure somewhat. However, unless BTC/USD clears the 30000 mark, the path of least resistance is sideways to slightly down.

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The rise on Monday above the initial cap at the mid-May high of 27675 has reduced the downward pressure somewhat. However, unless BTC/USD clears the 30000 mark, the path of least resistance is sideways to slightly down.