U.Today - has recently faced a pivotal moment on its market journey, with its price action hitting a local resistance level that has proven difficult to break. Despite showing signs of a potential breakthrough, ADA has struggled to maintain momentum, raising questions about its immediate future on the crypto market.
A golden cross, typically considered a bullish signal where the shorter-term moving average crosses above the longer-term moving average, had given investors hope of a sustained upward trend. However, the price has not followed through with a breakout, suggesting a tug-of-war between bullish optimism and bearish caution.
The inability of to break through the resistance level could be attributed to several factors. First, the broader market sentiment has been cautious, with many investors still reeling from recent volatility. Second, liquidity at the resistance level may be too strong, creating a barrier that buying pressure has so far failed to overcome.
Looking ahead, there are two potential scenarios for the :