How is the price of Cardano going? ADA fell 7% in one day, almost to $1!
Cardano has been rising sharply recently, and the annual high of $0.8 has been recovered, and it is almost at the key position of $1.3. However, it may have to fluctuate between $0.8 and $1.3 for a while.
Here is a wave of technical analysis
From the weekly chart, Cardano rebounded from $0.3 and also took the annual high of $0.8, but as soon as it reached $1.3, sellers began to put pressure. In the long run, Cardano may retreat to $0.8 to rest first. If it stands firm, it can rush up again, with the target directly at $2!
Looking at the 4-hour chart again, Cardano encountered a sell-off as soon as it reached $1.3, and the bearish pattern of the head and shoulders top appeared.
If the neckline is broken, it may have to pull back to the Fibonacci level of $0.82 to $0.7. However, this pullback may allow buyers to come in again, laying a good foundation for regaining $1.3 and continuing to rise
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