Cardano has broken out of a consolidation pattern, but it’s lacking the volume it needs for a trend reversal.
Cardano has not had the strength to advance further after breaking out of a descending triangle on Jul. 24. The $1.33 resistance zone has prevented ADA from achieving its upside potential.
Although the technical formation forecasts a 54.55% upswing toward $1.91, trading volume remains almost flat.
Amazon’s negative stance on supporting cryptocurrency payments may have contributed to Cardano’s stagnant price action. Now, time is running out for the fifth-largest cryptocurrency by market capitalization to make its final move.
