Cardano

<ul>
 <li><strong>At the time of writing, ADA is trading at $0.3885, down 0.61% in the last 24 hours.</strong></li>
 <li><strong>If the price manages to go past $0.41 level, then it will likely test the $0.42 mark.</strong></li>
</ul>
<p><a href="https://thenewscrypto.com/cardano-foundation-rallies-11-million-ada-behind-catalytic-governance-proposal/" target="_blank" rel="noopener noreferrer nofollow">Cardano</a> (ADA), has been doing rather well as of late, with a monthly price rise of 38.72% taking it around the $0.40 threshold. Therefore, next year’s performance of the asset is worth monitoring to see whether the current trend can be sustained.</p>
<p>The two most important factors that might push ADA’s value higher are favorable crypto market trends and successful initiatives around the token.</p>
<h3 class="wp-block-heading" id="h-second-unsuccessful-attempt">Second Unsuccessful Attempt</h3>
<p>Cardano (ADA) made a failed attempt to go past a key resistance level, $0.40, which has been a barrier for a long time. The rise of Cardano to the $0.40 level was eagerly monitored by traders, as this level had proven to be a tough roadblock.</p>
<p>When the price first touched $0.40, it was met with a flood of confidence, raising hopes that ADA would be able to both sustain its recent advances and utilize them as a springboard for much further expansion. However, it could not hold around this critical level, and the price retreated.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="630" height="380" src="https://thenewscrypto.com/wp-content/uploads/2023/11/ADA_7D_graph_coinmarketcap-5.png" alt="" class="wp-image-86387" srcset="https://thenewscrypto.com/wp-content/uploads/2023/11/ADA_7D_graph_coinmarketcap-5.png 630w, https://thenewscrypto.com/wp-content/uploads/2023/11/ADA_7D_graph_coinmarketcap-5-300x181.png 300w" sizes="(max-width: 630px) 100vw, 630px">
  <figcaption class="wp-element-caption">
   Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div>
<p>At the time of writing, <a href="https://thenewscrypto.com/cardano-witnesses-correction-after-failing-to-break-above-0-41/" target="_blank" rel="noopener noreferrer nofollow">ADA</a> is trading at $0.39, down 0.61% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is down 22.99%. This recent attempt to break above $0.40 was the second push after it could not sustain above this level on November 20.</p>
<p>If the price manages to go past $0.41 level, then it will likely rally further to test $0.42 resistance level. On the other hand, if the price manages to go below $0.38 level then it will decline further to test $0.37 support level.</p>

Cardano Yet Again Makes a Failed Attempt to Break Above $0.40 Level

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TheNewsCrypto

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