Cardano Could Drop To $0.54 If This Support Gives Out, Analyst Says

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Cardano Could Drop To $0.54 If This Support Gives Out, Analyst Says - NewsBTC

Quick Summary:

As the analyst has pointed out in another X post, XRP has been trading inside such a channel in the short term.“XRP is trading within an ascending triangle, with key resistance at $2.22,” notes Martinez.“A breakout could spark a move toward $2.40.” ADA Price At the time of writing, Cardano is trading around $0.65, up around 20% in the last week.

Now, here is the chart shared by the analyst that shows the Descending Channel that the 3-day price of Cardano has been trading inside for the last few months: As is visible in the above graph, Cardano found a rebound near the bottom of the channel earlier in the month, although it didn’t actually go low enough to make a proper retest of it.

Cardano Is Currently Trading Inside A Descending Channel In a new post on X, analyst Ali Martinez has talked about a pattern forming in the 3-day price of Cardano.