Analysis of Cardano's Price
Cardano
ADA
tickers down
€0.8331
has been trading below the neckline of the H&S pattern, indicating that the bears have maintained their pressure.
The ADA/USDT pair could drop to the support zone of $0.80 to $0.70, where bulls are expected to mount a strong defense. If the bears prevail and sink the price below the support zone, the pair could collapse towards the pattern's target at $0.50.
If buyers want to avoid this drop, they will have to push and maintain the price above $1. If they manage to do so, several aggressive bears could get trapped, resulting in a "short squeeze."
