$ADA 𝗔𝗡𝗔𝗟𝗬𝗦𝗜𝗦: 𝗟𝗢𝗡𝗚 𝗣𝗢𝗦𝗜𝗧𝗜𝗢𝗡 𝗘𝗡𝗧𝗥𝗬

Currently, the daily chart for Cardano shows a descending channel, indicating a bearish trend. However, there are signals of a potential bullish reversal if the price breaks above the descending channel, especially with the Stochastic indicator being in an oversold condition. The key support level is around $0.300, while the next resistance levels are at $0.450 and $0.650.

▫️Proposed Trade:

• Trade Type: Buy (Long)

• Entry Point: Upon price breaking above the descending channel with confirmation, around $0.360

• Take Profit (TP): First level at $0.450, second level at $0.650

• Stop Loss (SL): Below the key support level at $0.295

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