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Cardano 
$0.709916 (ADA) has shown a horizontal trajectory in the past 24 hours, fluctuating between $0.63 and $0.65. The recent significant sale of 100 million ADA has created a surplus that has unsettled investors. Consequently, questions have arisen regarding whether ADA will experience a strong uptrend or another pullback in the short term. Market participants are now closely monitoring potential signals that could dictate price movements.
Uncertainty in ADA Price and Technical Indicators
The price of Cardano has seen a limited increase of 0.26%, reaching $0.6397. During the day, it recorded a high of $0.6557 and a low of $0.6301. While the weekly chart reflects a notable increase of approximately 10%, there has been a 13% decline in value over the last 30 days. This volatile appearance compels investors to act cautiously.
A critical support level for investors is emerging at $0.63. Technical analysts suggest that if the price falls below this level, it could retract to as low as $0.54. Trader Tardigrade pointed out that the $0.64 level presents a short-term buying opportunity, setting a target of $0.73.
There is still no clarity regarding long-term direction. The price’s confinement within a narrow range further accentuates market indecision. On one side, there are investors seeking buying opportunities, while on the other hand, some are concerned about the continuation of large sales.
Whale Sales Affect Market Psychology
Notable analyst Ali Martinez disclosed that Cardano whales have injected approximately 100 million ADA into the market in the past week. Such substantial sales have inevitably led to disruptions in investor sentiment. While some commentators argue that this movement is motivated by profit realization, the pressure from sales continues to have an impact.
Charles Hoskinson’s remarks garnered attention. The founder of Cardano suggested that the ADA network could play a significant role in Bitcoin 
$94,562‘s adoption, highlighting the network’s potential. Although this statement may bolster positive expectations for Cardano’s future, its immediate influence on price behavior remains limited.
These conflicting signals in the market complicate decision-making processes for investors. For ADA to exhibit a robust recovery, there needs to be a reduction in selling pressure and a technical breach of resistance levels. Otherwise, it may not be surprising to see lower prices in the short term.
