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Cardano (ADA) has been trading within a narrow range over the past few months, and its price action suggests a potential giant drop in 2025. In order to gain a deeper understanding of this potential, let’s dive into a more detailed analysis.
To begin with, it’s crucial to examine the larger trend for ADA. The cryptocurrency has been moving sideways since mid-2022, forming a symmetrical triangle that might be an indicator of a prolonged consolidation period. However, this could also serve as a precursor to a massive drop in 2025 if it fails to break above its resistance.
In addition to this, the volume is at historic lows, implying that investors are not eager to buy ADA aggressively, which could further fuel potential losses. The RSI (Relative Strength Index) is currently in the neutral region, suggesting neither the bulls nor the bears have control over the market.
Source: coinpedia.org
