Cardano Price Rally Tiring Out? Charts Show A 9% Range Risk
Cardano's recent 21% weekly rally shows cooling momentum, suggesting a potential 9% consolidation range between $0.39 and $0.43.Summary
Cardano's price has rallied nearly 21% over the past week, but technical indicators suggest the upward momentum is tiring. On the 12-hour chart, while a bullish EMA crossover looms, the Relative Strength Index (RSI) shows a hidden bearish divergence, indicating slowing force behind the move.
On-chain data supports a consolidation scenario rather than a sharp drop, as both short-term and very long-term ADA holders have significantly reduced their coin movement, signaling patience and a lack of panic selling. This low activity suggests the market is likely to move sideways.
Key price levels define the expected range: support sits at $0.39, and resistance is at $0.43. Until a decisive break occurs above $0.43 or below $0.39, the most probable outcome is a sideways trading range of approximately 9%.
(Source：BeInCrypto)