IITMIND: EdTech, Finance and Crypto currencies


Cardano price recently formed some interesting patterns on the chart, hinting at a reversal. This technical formation contains a sharp valley followed by a rounded bottom, both trapped below a horizontal resistance barrier.

This technical formation predicts a 10% upside, determined by adding the distance between the highest peak and lowest valley to the breakout point at $0.864.

Doing so reveals a target of upto $0.938. While theoretically, this target makes sense, investors need to look forward to finding a better place where buyers could form a local top.

The $0.983 is one such level since Cardano price formed multiple local tops around this barrier since 26 Feb. Hence, investors can expect Cardano's price to retest the $1 level in the upcoming days.

Surprisingly, if ADA's price fails to hold above $0.847, it will create a lower low and invalidate the bullish trend. Due to this, Cardano's price may be crash lower to find stable support.

>> Disclaimer Risk warning:- Cryptocurrency Investment is subject to high market risk. The information on our website is for educational purposes only. Please do your own research before investing anywhere, we will not be responsible for your investment losses.

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