ADA Price Outlook: Looking for a Recovery Opportunity
Currently, the price of Cardano (ADA) is at $0.89, hovering above the key support level of $0.87 after a sharp drop of 7% in the past 24 hours. Whether it can hold above this price level is crucial to maintain the bullish trend in the short term.
If the market rebounds, ADA has the hope of conquering the previously lost $1.00 level again. Once this resistance level successfully turns into support, it will mean that Cardano has started the road to recovery, pushing the price towards $1.23 and may also attract more investors to enter the market.
On the other hand, if the price loses the $0.87 support level, it may trigger a further decline. If it falls below this level, ADA may drop to $0.77, which will make the bullish expectations vanish and the market may enter a bearish pattern.
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