Cardano (ADA) is trading at $0.2743, down 0.4% in the past 24 hours, as it struggles to break above the middle Bollinger Band at $0.2756, a critical resistance level. The cryptocurrency has fluctuated between $0.2682 and $0.277, indicating a tight trading range. Despite a 3.85% gain over the past week, ADA has seen significant declines of 21.69% over 30 days and 32.94% over 90 days.
The daily chart shows ADA facing resistance at the middle Bollinger Band, with the upper band at $0.3012 as the next major hurdle. A decisive close above the middle band could signal a shift in momentum, while a breakdown below the lower band at $0.2499 may trigger further bearish moves. The Awesome Oscillator remains negative, though signs of weakening bearish pressure are emerging.
In futures markets, Cardano saw a short-term net inflow of $2.02 million, but broader trends show a cautious stance with net outflows of $11.02 million over 24 hours. This suggests traders are reducing exposure despite occasional buying interest.
Cardano Faces Key Resistance at $0.2756 Amid Tight Trading Range
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