#ADA has had a disappointing year so far. Since January, its price has fallen by over 40% from its highs around $1. While the asset found good support at $0.64, buyers failed to move it much beyond this level at the time of this post. This is why the price is similar to last week.
Ideally, ADA will hold above $0.64 and make its way towards $0.90, which is the most important resistance on the chart. However, if the overall market remains undecided or turns bearish, it is unlikely ADA can sustain an uptrend.
Looking ahead, Cardano appears to have found a local bottom at $0.64, but this still appears fragile. Bulls really need to break above $0.90 to restore confidence in a sustained rally.
#BigTechStablecoin #TrumpVsMusk #CryptoTrends2024 #MarketPullback
