Looking at the Cardano (ADA) 4hr chart you will see we broke out to the downside, but have not yet reached the target level of $1.64 (This could still play out with a further downward move), however we have strong support at the $2.00 level, which for now is holding up, having been retested it twice (20th Sep and 21st Sep). Currently the price sits at $2.15 with a trend to the upside. Our next resistance zone is sitting around the $3.34 level. Should we break that level then then next resistance would be around the $2.78. If we fail to break the $2.34 level I expect a move back down to the $2.00 level which would provide another buy the dip opportunity. *Note the more we test the $2.00 support level, the more likely we are to break it and move further down.
I expect with chatter of the upcoming Cardano Summit on the 25th/26th Sept that we could see an upward move in anticipation of potential partnerships.
I expect with chatter of the upcoming Cardano Summit on the 25th/26th Sept that we could see an upward move in anticipation of potential partnerships.
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