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Cardano (ADA) Price: Technical Analysis Shows Resistance at $0.70 as Downtrend Continues

  • Cardano (ADA) faced resistance at $0.70 after a recovery attempt, with indicators showing mixed signals
  • Whale addresses sold 200 million ADA in March, contributing to the price decline
  • Technical analysis indicates resistance at $0.75 and support at $0.63 for ADA
  • Analysts predict potential long-term growth for ADA if historical patterns continue, aiming for $50.48 by 2025
  • ADA is currently trading around $0.68, down 7.87% over the past week
  • ADA faced rejection above $0.70, leading to consolidation near $0.65 with potential for further losses
  • The price correction broke a bullish trend line at $0.6720 on the hourly chart
  • Whales' selling pressured ADA, with 200 million ADA sold in March amidst a price decline
  • Technical indicators show a potential bearish outlook for ADA but with signs of weakening momentum
  • The long-term outlook for ADA remains positive if it can break above key resistance levels

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