š„Will Cardano Hit $1 With This Trendline Breakout?š„$ADA
š¹With a potential double bottom, Cardano prepares a bull cycle to challenge the overhead trendline. Will this reversal rally result in a breakout run to $1?
Maintaining a declining trend in the daily chart, Cardano has taken a massive hit over the past few months. Falling 54% since April, the ADA token is now down to $0.37 from the annual peak of $0.81 after facing the $1 psychological mark.
The lower high formation of the bearish trend leads to a resistance trendline formation. In addition to the $0.34 support level, a declining triangle is visible that keeps Cardano entrapped.
