Analysts Says Cardano Has Bottomed And Will Rally To $0.8, But It Must Hold This Level

Quick Summary:

As a result, Faibik has urged Cardano investors to keep an eye on this crucial area.    Sharing a similar sentiment, another crypto analyst identified as Zayk Charts’ on X has also unveiled the unique falling wedge pattern on Cardano’s chart.

A crypto analyst identified as Crypto Feras has revealed a crucial support level that Cardano must maintain to secure its anticipated bullish rebound.  In his price chart, Crypto Feras highlighted Cardano’s latest price actions, marking the critical support level at $0.4251 with a yellow box.

This falling wedge formation often indicates that a cryptocurrency has hit its bottom or swing low in a market, and is seen as a bullish indicator.    Sharing a price chart of Cardano from September 2023 to August 2024, Faibik predicted that Cardano would be breaking out of its price correction soon.

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Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: Crypto analyst ADA news ADA Cardano price Analyst Cardano news Cardano Crypto news ADAUSDT Adausd Crypto ADA price

Source Website Secure: Yes (HTTPS)

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Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-01 @ 20:00:40 (2 days ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 468 words

Reading Time: 3 minutes read

Sentences: 66 lines

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Copyright Owner: © NewsBTC

News ID: 21450406

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