ADA Price..
Amid the recent market recovery, the Cardano price bounced from an ascending trendline that had been. The bullish turnaround uplifted the asset from 18.3% to trade at $0.32, while the market cap jumped to $11.73 Billion.
If the bullish momentum sustains, the ADA price could rise by 30% to challenge the upper boundary of the broadening channel pattern. This pattern’s diverging trendlines highlight uncertainty among traders and the lack of conviction from buyers or sellers.
Thus, a potential breakout from the overhead trendline is needed to signal the end of the current correction trend.
The Relative Strength Index at 37% signals a bearish sentiment among traders.
However, the downtrend will be prolonged if the Cardano price reverts from the overhead trendline at $0.42.
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