In the midst of the low prices of bitcoin and ethereum, Cardano has witnessed a huge and intense decline during the past four days. This represents the fall of 25 % to re -test $ 0.70.
Cardano is preparing to test after the test, because it fluctuates near the EMA 200 line. Will this recovery push Cardano to a higher teacher $ 1? Let’s discover.
Cardano prices analysis
Cardano is currently trading at a market price of $ 0.748 with a recovery during the day by 3.74 %. This comes after a declining dominant candle, which was formed on Sunday, with a decrease of 10 %.
However, the withdrawal comes as a possible re -test of the broken fallacy whiff. Along with the broken resistance line, the EMA line provides for 200 days for the ADA hanging prices.
Since Cardano maintains dominance over the broken resistance direction line, the possibility of a large bullish return. However, the prevailing fall led to a negative intersection in MACD lines and signal lines.
Moreover, EMA lines are combined for 50 and 100 days and avoid a potential negative intersection. Based on the possibility of post -test reflection, the upper trend is likely to challenge the Fibonacci level based on the direction at $ 0.876.
The Al -Athlini Rally is likely to test the Fibonacci level by 50 % at $ 1.27. On the other hand, ADA’s decisive support remains at $ 0.626 followed by a psychological brand of $ 0.50.
The analyst suggests the main support at $ 0.66
Ali Martinez, an encryption analyst, High The possibility of a bullish reflection on the price of Ada. In the ADA daily price scheme, Ali Martinez highlights a major support zone ranging between $ 0.80 and $ 0.66.
As long as Cardano maintains dominance over this area, it is possible that the upward return in Ada prices increases a new level.
