has had a tough week so far, down 20% against (BTC) in the last seven days and ousted by Monero from the number nine spot. While many top 10 cryptocurrencies were showing stronger signs of recovery yesterday, Cardano was slow to regain ground, with many investors trading out into Tether (USDT) to prevent further losses.
The project recently announced a number of development updates in its roadmap, including a web-light wallet (Yoroi), but these releases failed to inspire much-needed bullish support.
As the market begins to recover, however, ADA is showing some signs that bulls may be starting to return to the asset.
Diving into the 4hr chart, we can see the asset has been tracking consistently inside a falling wedge pattern since May this year. Market demand for ADA has been decreasing over the third quarter, with the price dropping by 50% since July.
These patterns are …
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