Cardano ADA price has a ray of hope for continued growth

9 mai 2023

The last time we came up with an idea for ADAUSDT was 5 months ago, and it's been working out great. The value of the Cardano token has doubled during this time.

The positive thing is that the ADA price has broken out of the falling trend channel.

However, there was one "But" during this time - buyers were unable to break through and gain a foothold above the powerful liquid level of $ 0.43

On yesterday's market decline, buyers of ADAUSD managed to keep the price in an uptrend, above the local purple trend line. That is, buyers don't want to give up easily, which is good and gives a ray of hope.

Given that, in the coming days, BTC sellers may try to drop the price below $ 26600-27000 to break the stops of long positions that are hiding there. The ADAUSDT price may also squeeze down, but it shouldn't be able to stay below $ 0.327-0.34. Fixing the price below this level could trigger an extension of the price drop to $ 0.27 and below.

A positive scenario is difficult in the current realities but possible.
It is necessary to break through to $ 0.55, then consolidate above $ 0.43, and only then will the path to $ 0.80 open up, and maybe even to the first "non-burning price" $ 1 (not million)))
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more