Cardano Price Crash BUT Prices should retrace higher?
What's next for Cardano? Will Cardano crash to 20 cents? Let's analyze in this Cardano price prediction article.
The crypto market is still retracing lower. However, prices have reached a strong support. This is especially true for Cardano, as its prices retraced back towards the support area delimited by $0.30 and $0.32. What’s next for Cardano? Will Cardano price crash to 20 cents? Let’s analyze in this Cardano price prediction article.
Cardano Price Analysis: Why is Cardano DOWN?
Cardano started a strong uptrend in 2023, as prices rose from a low of $0.24 and reached a high of $0.40. Prices adjusted lower, then tried to breach the $0.40 price mark but failed to do so. In turn, ADA crashed back towards the first target of $0.36, then later to the $0.33 price mark as predicted in a previous article.
Cardano Price Prediction: Will Cardano CRASH?
Now that Cardano is sitting at a strong support, it is mostly probable that ADA price retraces higher, provided that the entire crypto market is doing to the same. If this happens, ADA should go back towards $0.35 as part of a 38% Fib retracement.
Another scenario however, could lead to Cardano crashing lower than $0.30. If the entire crypto market continues to bleed, Cardano should also follow this path, breaking lower than the psychological price of 30 cents.
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