Cardano’s price has remained confined to a narrow range following a substantial sell-off by large holders, who unloaded 50 million ADA in just two days. This move occurred while the coin hovered near a key support level that had been tested twice in September. The market now awaits the next direction as both positive and negative signals emerge from technical indicators. 50-day moving average at $0.83 while the 200-day moving average was at $0.73, showing a longer-term bullish path. However, a significant resistance zone between $0.84 and $0.86 poses a hurdle. Even so, some analysts believe that breaking above this level could push prices towards $0.90. However, the potential for a parabolic phase is debated; a key indicator of this is the high open interest in derivatives, suggesting confidence in further gains, despite concerns about resistance near the 84-86 area. Some analysts highlight the need to clear this level for a sustained upward trajectory. However, others are skeptical of Cardano’s potential and believe the coin will continue moving sideways until it breaks above or falls below support levels. Despite the uncertainty surrounding the price action, traders remain cautiously optimistic as some signals point towards a possible breakout from the falling wedge pattern on the 4-hour timeframe, with $0.8913 being a potential target. While some technical indicators show positive signs, others signal weakness such as the Death Cross formed by the 50-period EMA falling under the 200-period EMA. If Cardano’s price struggles to break above resistance, it could be forced back towards the wedge support near $0.7788 and could face downward pressure. The future of Cardano will depend on whether it can overcome this resistance or slide back toward that support level.