The market participants are eagerly waiting for the Cardano price to reach $0.4 sooner rather than later. Meanwhile, the token appears to have entered a prolonged relaxation period, as the bulls are displaying no interest in accumulating the token. ADA, which was once valued as equal to Solana (SOL) back in 2020, has now become equal to 400 ADA tokens. This suggests the ADA price rally could be dead as they are missing a major catalyst required to trigger a monstrous rally.
Recently, the Cardano ecosystem underwent a key major upgrade, which resulted in a historical increase of over 96 million transactions. Regardless of this, the price failed to surpass the resistance, raising concerns over the next price action.
The weekly chart of Cardano suggests the bulls are going in passive mode, regardless of the market volatility in the first few weeks of the year. The price made a move to $0.75, which revived the possibility of achieving…
