Cardano’s 300% Rally Faces Test as Retail Investors Begin Taking Profits

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TheNewsCrypto 1d ago

Cardano’s 300% Rally Faces Test as Retail Investors Begin Taking Profits - TheNewsCrypto

Quick Summary:

The cryptocurrency market is witnessing a fascinating situation with Cardano (ADA), as its phenomenal 300% price surge over five weeks creates an intricate balance between continued momentum and emerging profit-taking behavior.

A successful conversion of this resistance into support could pave the way for Cardano to push toward $1.50, while failure to hold this level might trigger a retreat to $1.01.

A notable trend has emerged among smaller market participants, with wallets holding between 100 and 10,000 ADA collectively disposing of more than 72 million tokens, valued at over $92 million.