Cardano Price Consolidates Above $0.35 as Bulls Look to Break $0.40 Resistance
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Cardano's price is consolidating above $0.35 despite failing to break $0.40 resistance last week.
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New user adoption rate on Cardano has remained high over 30% last week, showing new demand.
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Existing Cardano users are also performing many transactions, heating up network activity.
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On-chain data suggests ADA price could rebound from $0.35 support if bulls hold.
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If $0.35 support breaks, ADA could fall to $0.30, but crossing $0.40 resistance could lead to rally towards $0.50.