Market Update: Cardano’s Recent Price Movement

26 Cardano (ADA) on Verge of $1 Amid 15% Price Rebound

Tomiwabold Olajide

Amid the current uncertainty on the market, bulls are attempting to defend the $0.86 level near the daily SMA 50, fearing that failure might trigger ADA to fall to $0.69. If this support also cracks, ADA might drop to as low as $0.50.

This bearish outlook will be disproved in the near term if the price rises and breaks above $1. This will signal a strong demand at lower levels.

Source: u.today