Here’s Why One Analyst Thinks Cardano (ADA) Could Soon “Nuke” Lower

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Cardano saw a massive upswing yesterday that allowed it to erase virtually all of its recent losses For a brief period, the crypto even tapped its previously established yearly highs, although the selling pressure here proved to be quite significant As for where the cryptocurrency could trend next, analysts are growing increasingly cautious about its outlook Despite there being a few technical signs that suggest it may continue pushing higher, one trader is noting that it could “nuke lower” at any second Cardano (ADA) has been caught in the throes of a firm uptrend throughout the past several days and weeks, adding a significant amount of money to its market capitalization as investors pour fresh funds in. This positive price action has largely been rooted in positive news regarding the Shelley mainnet upgrade as well as the imminent launch of ADA staking on Coinbase Custody. Investors have rallied behind this…

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