Cardano (ADA) Stabilizing, Can It Break Key Resistance to Hit $1?

Cardano’s recent price movement shows early signs of stabilization after several weeks of downward pressure, but the asset remains constrained beneath a critical resistance area that must be surpassed before any attempt at the $1 liquidity zone becomes realistic. Market data across multiple timeframes indicates that ADA continues to face an uncertain short-term outlook despite minor intraday improvements. Overview of Recent ADA Performance The asset experienced a sharp retracement late in November, declining from approximately $0.47 on Nov. 20 to around $0.39 the next day. Over the last 24 hours, ADA has traded within a relatively narrow range between $0.4065 and $0.4274, reflecting efforts by buyers to stabilize the market while still encountering selling pressure near the upper band of the range. On broader time horizons, bearish sentiment remains dominant. Cardano has recorded a 6.4% decline over the past week and a 38.52% drop across the past month. The token’s...

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