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Cardano runs into a resistance zone, can ADA traders anticipate a pullback

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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.The Vasil upgrade was announced to be a success by IOHK.

This upgrade “will bring significant performance & capability enhancements”, and IOHK described it as the most ambitious program of work they’ve undertaken.On the price charts, the past few days have seen the price register sizeable gains.

The possibility of a sharp pullback for Bitcoin [BTC] threatened the idea of further gains for Cardano [ADA]. Cautious traders can wait for a strong trend to establish and trade in its direction.

At the time of writing, the $0.49 region loomed as a strong resistance, while $0.44 and $0.46 were support zones.Source: ADA/USDT on TradingViewThe four-hour chart formed lower highs over the past two weeks.

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