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Post:
- Cardano merchants should be careful because $ 0.82- $ 0.88 is a supply area.
- It is expected to move to $ 0.62 in the future, and the bulls must stop falling.
The decision of Cardano (ADA) branch ETF is approaching. The deadline for the decision is March 27th.
Recently, the division of Cardano Whale token movement has also asked questions. Was this accumulation before the decision or the asset distribution?
The price chart provided insight into the appearance of market sentiment. The situation stood up and the ADA fell rapidly and could head to $ 0.6 in the next few weeks.
The volume profile has shown that $ 0.9 and $ 0.74 may be key.
Source:/USDT TradingView
The swing structure of the ADA was weak. The November rally exceeded the previous high of 2024. Since then, the token has created a low high and low lowest level.
Recently, the lowest low was $ 0.845 and the lowest in recent years was $ 1.13 in January. Since then, the rapid drop in prices has changed to change the swing structure.
In February, the fixed range volume profile emphasized three large nodes at $ 0.74, $ 0.59 and $ 0.45. In addition to this node, the value area is $ 0.876. In recent months, Cardano has found support for this level.
At $ 0.68, the fast price bounce showed some optimism for a low period of time. This means that the ADA moves beyond the mass node to $ 0.74.
The amazing oscillator showed that the weak momentum was dominant, but it was weakened last week after the fast price bounce.
In combination with the weak structure, the price bounce could be extended to $ 0.87-$ 0.90 before resuming the downturn.
To stop this decline, Cardano Bulls must stop the lowest formation. This is achieved when the range is formed, but it did not occur in the press time.
Therefore, Cardano price predictions continue to fall over the next few months. There may be a range of formation between $ 0.68-$ 0.81, but it can take a week to embody.
Indemnity Clause: The information presented does not make up financial, investment, transactions, or other types of advice, and is entirely the artist’s opinion.