Has ADA gotten back to a bearish cycle? CardanoStiftung ADAcoin_ Cardano cardano Cardano_ emurgo_io CardanoCommunity
Despite a sharp drop today, the rate of Cardano might have found the local support level at $0.3355. Until the price is above it, buyers have a chance to bounce back. Furthermore, closure near the formed resistance at $0.3395 can create a blast to the $0.3440 zone.
On the daily time frame, the rate of Cardano has made a false breakout of the support at $0.3237 against the increased volume. However, it is too early to think about a reversal.In this case, the more likely scenario is sideways trading in the range of $0.33-$0.35 until mid-March. A similar situation can be seen on the weekly chart. At the moment, one should pay attention to the bar's closure. If it happens near the $0.3237 support level, the drop may continue to the crucial zone of $0.30 and below.
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