$ADA is currently on a solid run, but a large portion of investors might not believe in its supremacy right now
, only to be met with a substantial sell-off almost instantaneously. This rapid turn of events has led to profit-taking among investors, many of whom hold the view that Cardano's recovery is merely transitory and will ultimately result in another correction in the near future.
At present, ADA is trading at $0.37, having broken through the 50-day moving average and reaching the next resistance level on the chart. In light of current market conditions, Cardano appears to be in an uptrend, with the potential to continue moving upward.This sell-off can be attributed to investor skepticism regarding the sustainability of Cardano's recent price rally.
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