Cardano (ADA) Experiences Turbulent 4 Days: Peaks at $0.48 Before a 10% Drop – What’s on the Horizon?

• Cardano’s ADA token has experienced a significant price drop of nearly 10% over the past three days.
• This decline has occurred despite an increase in the number of daily active addresses trading ADA.
• The current demand for ADA appears insufficient to initiate a price rally, with key momentum indicators suggesting a preference for selling over accumulation.

Cardano’s ADA token sees a price drop despite an increase in daily active addresses, suggesting a divergence between price movements and network activity.

ADA’s Price Drop Amidst Increased Network Activity

Despite breaking out of a descending triangle and briefly rallying at the beginning of May, Cardano’s ADA token is back trading at the $0.44 support price level. The altcoin’s price peaked at $0.48 on May 4th, but has since declined, losing 8% of i... Read the full article for FREE at COINOTAG!