Analyst Says Cardano (ADA) Could Be Due for Another Pullback. Here’s why

Key Points

1. Cardano (ADA) has been on a steady upward trend, recently reclaiming the $0.74 mark.

2. The TD Sequential indicator, used to anticipate trend exhaustion, has triggered a sell signal for ADA.

3. The same indicator previously marked a significant drop in ADA's price from over $0.7 to around $0.51 in under two weeks.

4. At the time of the chart’s publication, ADA was trading around $0.7378, with some market participants remaining confident in its continued climb.

5. Martinez noted ADA’s similarity to its 2021 bull run, which led to its all-time high of $3.1, suggesting potential for similar gains if it avoids a bearish turn.