The consolidation phase, marked by alternating green and red candles, reflects a lack of decisive action from buyers or sellers.
A closer look at the daily chart reveals a pennant formation during this consolidation, indicating a broader bullish pattern.
A bullish breakout from the pennant could amplify buying momentum in Cardano's price.
According to Coingabbar Price Analysis, At $0.37, ADA finds substantial support, influencing its short-term trajectory.
The $0.4 level posed a significant obstacle to Cardano's price recovery, leading to a consolidation phase driven by overhead supply.
KEY LEVELS :
RESISTANCE LEVEL : $0.3880-$0.4000
SUPPORT LEVEL : $0.3690-$0.3550
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