Hey there, ✌ ADAUSDT In the daily timeframe, as observed, the price followed a downward trend from the 0.80 cent range, extending the correction down to 0.30 cents. Afterward, the price entered a consolidation phase within the 0.30 cent range, which has since been maintained. Currently, we’re seeing a breakout of the long-term descending trend line, and the price is trading around the 0.35 cent level.
The scenario we can consider in the daily timeframe is that, given the preservation of the demand zone and after accumulating liquidity, the price could see an upward movement towards the target of 0.39 cents and the supply zone in the 0.42 cent range. To confirm further upward movement, we need to observe the price’s reaction to these zones. (For a continuation of the uptrend and reaching the 0.50 cent target, the supply zone needs to be broken, with the price stabilizing above it.)
On the other hand, if the price falls below the 0.30 cent range after a consolidation phase and stabilizes, the probability of further correction increases.
💢This analysis is my personal viewpoint and not financial advice. If you found this helpful, please like and comment – I’d love to hear your thoughts! Happy trading! ✌😊
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Cardano has touched the target of $0.39 and has seen a 10% growth so far.
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✔️ Cardano has risen approximately 16.50% to reach the second target of $0.42. After a minor correction or consolidation at lower time frames, if it holds the levels of $0.38 - $0.36, it could potentially rise again to targets of $0.46 or even $0.50.
‼️ It will be important to monitor the overall market conditions to see how they influence this movement.
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Previous analyses indicated a scenario in the daily time frame where, considering the maintenance of the demand zone and after liquidity accumulation, the price could experience growth and move towards the target of $0.39, as well as the supply zone at around $0.42.
According to the expected scenario, the price has grown approximately 16.50%🚀 towards the target of $0.42. However, it faced selling pressure from the supply zone and dipped below the $0.36 level
As seen, the price has reacted positively again to the demand level. From an analytical perspective, the previous report remains valid. In the daily time frame, if the price can break above and stabilize over $0.40, the potential for an upward trend and further growth towards the ranges of $0.46 to $0.50 can be considered. Conversely, after a range-bound phase and a break below $0.30, we could witness further price corrections.