Cardano Faces Critical Resistance Amid Declining Trading Volume

Cardano's on-chain trading volume has experienced a significant drop of over 94% in the past six months, alongside a 68% decline in its price. According to NS3.AI, this trend indicates a decrease in investor activity. Despite the downturn, technical indicators such as a bullish inverse head-and-shoulders pattern and RSI divergence suggest a potential price reversal near the crucial $0.30 resistance level. However, the risk of profit-taking at this point could lead to selling pressure, making the outcome at the $0.30 mark crucial for ADA's future price direction.