Cardano price shows early bullish signs but faces heavy resistance walls

Cardano's leading stakeholders have come together to propose a funding request of 70 million ADA from the Treasury, aimed at enhancing the platform's core infrastructure to stimulate on-chain growth. This initiative is seen as a strategic move to bolster the network's capabilities and support its decentralized finance ecosystem.

Pi Network's price has turned increasingly bearish, with a strong distribution forming across the current trading range, raising concerns about a potential correction that could see the price drop below $0.20. This shift in market sentiment reflects a growing uncertainty among investors regarding the stability of the cryptocurrency.

Pepe Coin's price surged by 14% in the last 24 hours, primarily driven by retail buying, despite indications of a fragile market setup characterized by hidden bearish divergence and a potential head-and-shoulders pattern that may limit further gains.

AAVE's price has confirmed a bullish reversal pattern, rebounding 13.5% on December 3, despite a decline in total value locked (TVL) to a five-month low. This indicates a potential shift in market sentiment for the cryptocurrency, which has been experiencing a downtrend in recent weeks.

Solana has successfully rebounded above the $135 mark and its 100-hour simple moving average (SMA) after breaking a bearish trend line, indicating a strong reversal attempt. However, the cryptocurrency still faces nearby resistance levels that need to be cleared to prevent a potential pullback. This recovery follows a period of declining prices and market instability.

Bitcoin has absorbed $732 billion in new capital during its latest market cycle, characterized by increased institutional participation and a significant $24 billion in tokenized real-world assets (RWAs). This influx has led to a reduction in volatility, indicating a more stable trading environment for the cryptocurrency.

XRP price has shown positive momentum, reclaiming short-term exponential moving averages (EMAs) and experiencing a bullish turn in the MACD indicator. However, significant ask walls suggest that a breakout beyond the $2.2 mark will require substantial trading volume to overcome resistance levels. This follows a consolidation phase where XRP's price had previously dipped to a six-week low of $2.12.

ICP continues to trade below its 9- and 20-day exponential moving averages (EMAs), with bearish momentum indicated by the MACD and a neutral RSI. The cryptocurrency is confined within a tight trading range due to established bid and ask walls, limiting any potential for a breakout in the near term.