Cardano uptrend possible but depends on sell signal intensity

Cardano (CRYPTO:ADA) is struggling to recover from its recent 30% price crash, currently trading at $0.33. 

While the altcoin shows signs of potential upward momentum, the situation remains uncertain due to mixed signals from the market. 

The Moving Average Convergence Divergence (MACD) indicator is showing a bullish crossover, suggesting a possible shift in trend. 

This crossover typically indicates increasing buying pressure and could lead to a price reversal if sustained.

However, despite the positive MACD signal, investor participation in Cardano remains at a multi-year low. 

This decline in activity reflects a general disinterest or caution among investors, which could limit the impact of the bullish crossover. 

The low participation is triggering a sell signal, creating a challenging environment for ADA to rally.

Cardano's price is currently stuck under the resistance level of $0.346, which has prevented significant upward movement for nearly ten days. 

The combination of a bullish MACD and declining investor engagement suggests that while there is potential for a trend shift, the low market involvement may delay any substantial recovery.

In the near term, Cardano's price is likely to move sideways within the range of $0.346 and $0.311, where it has been consolidating. 

A breakout above $0.346 could push ADA towards the next critical resistance at $0.375, potentially invalidating the bearish outlook. 

However, without increased participation from investors, the chances of such a breakout remain uncertain. 

While there are signs of a possible uptrend for Cardano, the outcome largely depends on whether investor interest can be reignited and the current sell signal can be overcome. 

Until then, ADA may continue to experience sideways movement, with the possibility of further declines if the sell signal intensifies.