Cardano Price Hovers Near $0.17 as Traders Wait for Directional Move

Cardano ($ADA) is at a critical juncture after facing sustained selling pressure in recent sessions. Despite bulls defending key support levels, repeated failures to reclaim higher resistance have left traders waiting for a clear directional move.

The token has been trading near $0.165, within a narrow range that has attracted attention from market participants. It has repeatedly rebounded around the $0.160-$0.150 support zone, preventing a sharper decline despite persistent bearish pressure.

However, the recovery has been challenging. Price action continues to struggle below the $0.173 resistance area, while the 50-day Exponential Moving Average (EMA) near $0.175 remains another important hurdle for the token.