Cardano prices (ADA) show that bulls want to dominate the market in order to reduce the bearish trend. ADA prices are steady at $0.5, while a rejection was at $0.628.
As the bearish trend gains control, the prices have fallen by 7%. Market trading is currently at $0.524, which seems pivotal because there appears to be an ongoing power struggle between bulls and bears.
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Bulls Strive To Increase Market Prices With Support at $0.50
There has been support at $0.50. The bulls have tried to drive the prices up. The bears have not yet given up on their efforts to sell at steep levels.
These price fluctuations are causing the market to be perceived as more volatile, particularly since bulls and bears try to outperform one another.
Keep an eye out for the $0.5 critical level. A break below this trajectory could see prices plunge to $0.45. But prices could rise to $0.70 levels if the critical level is broken above $0.628.
Cardano Power Struggle: Bulls Vs. Bears
Cardano (ADA), a 24-hour price analysis, shows a strong price fight between bulls and bears. The market is under intense bearish pressure. The friction between the bulls, bears and the market can cause volatile activity in the short term.
With the market capitalization of approximately $17.69 trillion, the trading volume in the ADA/USD pairs is currently at $398,204.651.10. This pair currently stands at 8 position and is overshadowing 1.41 digital assets.
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This Week, ADA/USD Pairs Can Do Better
Considering the current consolidation phase, it is clear that the ADA/USD pairs are expected to be dominant and dominate this week with higher-performing figures.
Both bulls and bears try to grab the rope closer as they fight to be the market’s leader.
If you can see prices above the resistance of $0.628, the bulls have returned. For further downward turns to stop, prices need to have the right grip and support at $0.5.
Featured Image from Solodev. Chart from TradingView.com