Cardano (ADA) surged past the $1 mark over the weekend, marking a significant milestone in its recent rally. However, after reaching a multi-year high of $1.15, the cryptocurrency is now navigating a 17% correction as profit-taking sets in. Despite the pullback, the long-term outlook for Cardano remains bullish, fueled by renewed market momentum over the past three weeks. The price action reflects a maturing market, with ADA consolidating gains and building a foundation for its next move. On-chain data from IntoTheBlock highlights robust growth in network activity, signaling increased interest and adoption. This uptick in activity suggests that the consolidation phase could be temporary as the broader market gains strength. Related Reading: Bitcoin Realized Profit Hits ATH At $443 Million – Local Top Or Continuation? Cardano’s ability to maintain key support levels during this correction will be crucial in determining its next direction. Analysts are optimistic that the network’s growing fundamentals and favorable macro environment will drive ADA to new heights. As traders and investors monitor the $1 support level closely, Cardano’s evolving network metrics and bullish sentiment hint at a ..
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