The post Cardano Price Enters a Bearish Rut, Consolidates Under $1 appeared on BitcoinEthereumNews.com.

Cardano (ADA) has struggled to regain bullish momentum after a sharp decline, keeping its price below the critical $1 level. The altcoin’s inability to recover recent losses reflects a bleak outlook as it continues to consolidate in a narrow range. Weak investor sentiment and a lack of significant price movement exacerbate ADA’s struggles.   Cardano Investors Lose Interest Cardano’s price DAA (Daily Active Addresses) divergence is currently flashing a sell signal, highlighting diminishing bullish potential. The metric indicates that the number of active participants interacting with the blockchain is declining, further reducing buying pressure. This trend signals a bearish outcome for the altcoin if market conditions fail to shift.   Adding to the concerns is the lack of price growth. A dwindling investor base is visible as trading volume for ADA stagnates. Without increased market participation, the possibility of Cardano achieving a significant rebound diminishes, leaving the altcoin vulnerable to further price depreciation.   Cardano Price DAA Divergence. Source: Santiment Cardano’s macro momentum also points to bearish challenges. Whale activity has seen a noticeable decline, with the number of transactions exceeding $100,000 dropping to a six-week low. This decrease reflects hesitancy among large investors who often influence market movements.   The drop in high-value transactions to 5,560 transactions over the last 24 hours aligns with ADA’s lack of growth in recent days. Large investors appear to be waiting for stronger signals of recovery before re-entering the market, further dampening Cardano’s prospects for a near-term rally.   Cardano Number of Large Transactions. Source: IntoTheBlock ADA Price Prediction: Escaping Consolidation Cardano’s price is currently consolidating around $0.92, trading within a tight range of $0.87 to $1.00. This sideways movement over the past week highlights fading recovery chances as the broader market remains stagnant. The lack of a decisive breakout further solidifies its bearish rut.   If current bearish indicators…

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Filed under: News - @ December 25, 2024 8:12 am