Cardano Bear Trap Grows, But There's a Major Twist

Key Points

1. Cardano (ADA) has declined by 7.12% in the last seven days but saw a 4.84% increase in trading volume, reaching $1.2 billion in the last 24 hours.

2. ADA's price dropped to $0.8058 (a 3.66% decline in 24 hours) after fluctuating between $0.7817 and $0.8381, indicating profit-taking activity.

3. The Starstream upgrade is highlighted as a potential catalyst for Cardano's network competitiveness and investor confidence, following ADA's 40% growth in July.

4. Despite the recent downturn, ADA previously reached a peak of $0.935, nearing the $1 mark, suggesting potential for future price recovery.