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Cardano Price Analysis: ADA Enters Consolidation Phase as Bulls Seek to Rally Out of Bearish Zone

Cardano is experiencing a slight increase in price as bulls attempt to rally out of the bearish zone. Despite a decrease in trading volume by over 15%, ADA is currently in a consolidation phase and trading above its 7-day low of $0.3512.

The Relative Strength Index (RSI) suggests that the bulls may regain control of the asset's price action in the near future, while the Moving Average Convergence/Divergence (MACD) is showing negative values but with a possible recovery. Cardano's recent upgrades, such as Hydra, are expected to improve its price performance moving forward, with the first mainnet-compatible Hydra node already launched.

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