*ANALYST POINTS TO US$ 0,25 AS KEY SUPPORT FOR A NEW CARDANO HIGH*
By Mete Demiralp
A well-known technical analyst in the crypto market highlighted that the level of US$ 0,25 remains a crucial support point for Cardano (ADA). According to the analysis, this area has previously triggered two major rallies.
*HISTORICAL LEVEL:*
Based on the monthly candlestick chart, in January 2023, ADA saw a recovery of approximately *88.27%* after testing US$ 0,25. In September 2023, a new movement from the same support led to an appreciation of around *243%*.
*CURRENT SCENARIO:*
The analyst notes that Cardano is reacting again from US$ 0,25, which could signal the start of a new structural uptrend. If the support holds:
*1st target:* US$ 0,36
*2nd target:* US$ 0,53, on a broader horizon
*DOWNWARD RISK:*
Losing US$ 0,25 could indicate a deeper reversal and open the door for a sharp correction.
*CURRENT QUOTES:*
*BTC* $80,903 (+0.9%) | *ETH* $2,331.20 (+0.6%) | *XRP* $1.42 (+0.1%) | *BNB* $650.95 (+0.5%) | *SOL* $93.36 (+1.0%)
*OTHER WEEKLY HIGHLIGHTS:*
- Ripple (XRP) announces a new major partnership
- CEO of Strategy: "I believe in math, not ideology" explaining potential Bitcoin sell-off
- Tom Lee: Bitcoin begins a new bull run above key level; projects US$ 22,000 for Ethereum
- Bank with US$ 7 trillion under management announces investment in XRP
_This text does not constitute investment advice._
Source: http://Bitcoinsistemi.com
#Cardano #ADA #AnáliseTécnica #Criptomoedas #Altcoin