Cardano (ADA) saw notable accumulation by bullish investors on Christmas Day. Though driven by recovery momentum in the broader crypto market, Cardano price rally could not sustain and ultimately fell short.
Starting the day at $0.93, ADA faced bearish pressure and dropped to $0.86 by press time.
Bulls attempted to defend the price with a brief surge to $0.94, but the move was swiftly countered by bears, leading to a mild pullback and a consolidation phase.
The price action suggests that while bulls lacked the strength to sustain momentum. Despite that, the Cardano price is holding above key support levels, preserving its bullish structure despite the holiday dip.
Over the past week, Cardano price has been one of the biggest underperformers among the top ten cryptocurrencies.
However, on-chain data reveals that over 54% of ADA holders remain in profit, even amid consolidation following its sharp rally earlier in…
