Cardano (ADA) Holding Key Level Despite 14% Drop, $1.30 Next?
In the past day, Cardano (ADA) saw 14 % reviews in the decline of the cryptocurrency market. Cryptocurrencies have recently seen its price lost $ 1 and fell to less than $ 0.90 Monday morning. Despite the decline, some market observers have a positive view of ADA and asserted that they rebounded to $ 1.30.
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Cardano has high time range support
Cardano and the rest of the market ended Sunday bleedYesterday afternoon, seven consecutive red candles were registered. On Monday morning, the market continued, and Bitcoin (BTC) lost $ 100,000 for the first time in a week.
As the market correction continues, the price of ADA has lost US $ 0.90 support, hovering between $ 0.85-0.89 before recovery. About two weeks ago, Cardano bounced from the support of $ 0.90 to recover the $ 1 resistance.
During this jump, cryptocurrencies soared to 2025, but failed to exceed $ 1.18 of the resistance level, which caused ADA to fall into a downward trend. Since then, Altcoin has been unable to resold $ 1 Resist Support, hovering between $ 0.95-$ 1.02.
The recent decline made Cardano reaching a low price of two weeks and restored the end of the year at the end of the year of $ 0.83-0.95. However, as some market observers pointed out, the price of cryptocurrencies is still higher than the key level.
AMCRYPTO emphasized that after the ADA recovered from today’s low, it recovered the level of support for 2 days. For analysts, if Cardano has a $ 0.80 support area, “no panic is needed.”
This area is the Q1 high in 2024. It has become a higher time range. Once it transforms it into support in the second half of 2021 and 2024, it will exacerbate Altcoin’s rally. AMCRYPTO pointed out, “ALTS re -tested the main support level for the main support level during the operation of the bull.”
ADA is about to take back $ 1?
Other analysts share similar predictions, which shows that Cardano’s operation will depend on its next price action. “Carl Ununefelt) said:” Although market correction is adopted, ADA still insists on this large -scale bullish Bullish Pennant. “
The analyst pointed out that ADA’s chart shows a 2 -month -old bullish form. If it breaks out, the goal is 1.9 US dollars. However, he pointed out that the first goal was the top $ 1.30 in the local area. Girl Explain “If it supports the establishment, we can see a breakthrough at some at some time.”
At the same time, Ada Trader Sebastian consider Nanano needs to close the above $ 0.95 day. He said, “If this last day candle becomes green, it will be amazing for ADA,” and closed in the symmetrical triangle.
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Previously, Sebastian pointed out that the “painful integration of ADA) may soon end, as a Cryptocurrency “In this symmetrical triangle, it will be exhausted, and it may break out soon.”
For traders, if Cardano “returns a chart”, the recent collapse will “be destroyed and may cause pumps to rise.”
As of writing this article, the transaction price of ADA was $ 0.90, a decrease of 8 % in the past 24 hours.
Special images from unsplash.com, chart of tradingView.com
