Cardano (ADA) Bounces After Nearly 90% Drop Since All-Time High
Cardano (ADA) has been increasing since reaching a low on May 12. It is possible that the increase will eventually cause a breakout from a long-term descending parallel channel.Currently, the price is trading just above the 0.382 Fib retracement support level at $0.45. Measuring from the all-time high, it has decreased by 83%.
ADA has been falling since reaching an all-time high price of $3.10 on Sept. 2, 2021. The downward movement caused a breakdown from an ascending support line that had previously been in place since March 2020. It led to a low of $0.40 on May 12. Besides the current Fib support level, there is stronger support at $0.23 and $0.125, the 0.5 and 0.618 Fib retracement support levels, respectively. The latter is also a horizontal support area.
Source
https://t.me/Cronos_Cardano_Ripple
