The crypto space after a dreadful of huge losses appears to have set back on track with a decent rebound. The Bitcoin price which was expected to plunge below $40K is now sustained above $43K. And Ethereum price regained $3000 position after slumping down close to $2900. Yet the leader remained Cardano price which withstood the crash like a giant and refused to tank below $2.
Currently, the ADA price is undergoing a healthy consolidation and hence the upcoming move could gather good profits. The price is heading strongly to the immediate resistance levels around $2.4. And further, attempt to break the channel at $2.47. With the successful breach from the pattern, the price could ignite towards the next target.
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The ADA price currently appears to have formed the falling wedge, and as an outcome, the price could tend to raise a massive leg up. The price during the plunge rebounded firmly at the support levels at $1.97 and is marching high. The ADA community once again uplifted the price without allowing it to decline, incurring heavy losses. However, $2.4 levels appear pretty important as ranging above these levels could trigger the price to smash the ATH very close to $3.
Collectively, Cardano(ADA) price proved to be among the better investments over time, as the asset refuses to slump drastically as of now. However, minor corrections do act as a barrier to the rally, yet the bullish momentum could be well in place.
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