Cardano (ADA) Price Prediction: Will It Break Out of the Falling Wedge and Rise Above Resistance at $0.66?

Cardano's price is stuck within a range and has formed a new barrier at 0.66, which has become a strong resistance which needs to be cleared soon

Cardano price has been struggling to break free from a bearish pattern. Despite this, the token is now showing signs of a breakout.

As the third-generation token attempts to rise above the bearish influence, the coin is facing barriers from multiple factors.

Above is the analysis of the Cardano price chart and other relevant data.

As global macroeconomic conditions continue to affect the crypto market, the world’s leading food and beverage company, Kellogg's, has announced a layoff of about 1,800 employees.

This move comes as part of a broader cost-cutting measure due to a challenging economic climate. The layoffs will begin in the fourth quarter of 2023 and will affect managers, supervisors, and other administrative staff across various Kellogg's units.

The company plans to streamline its management structure and reduce overlapping administrative roles to improve efficiency.

This decision follows Kellogg's second-quarter earnings report, which showed a decline in both sales and profit due to rising input costs and a slowdown in consumer spending.

Despite the challenging conditions, Kellogg's reported better-than-expected earnings per share and revenue for the period.

The company also announced plans to spin off its North American cereal business into a separate public company by the end of 2024.

This move is intended to allow both companies to focus on their core strengths and drive greater value for shareholders.

In a statement, Kellogg's CEO,