#Cardano price hit a peak of $0.8100 in mid-March but struggled to maintain levels above $0.8000.
Following this peak, it underwent a notable decline of 55.80%, dropping to a low of $0.3575.
Since June 18, $ADA has traded consistently below $0.40, yet it has found reliable support just above $0.35.
Analyzing the daily chart reveals ADA forming a wedge pattern, indicating current price movements are confined within this structure.
ADA is now approaching a critical breakout juncture that will dictate its future price trend.
As per Coingabbar analysis, A drop below $0.35 would likely extend the downtrend, possibly targeting support around $0.28.
Conversely, a breakout above $0.40 would signal a rejection of the recent downtrend, suggesting potential bullish momentum ahead.
KEY LEVELS :
RESISTANCE LEVEL : $0.4000-$0.4500
SUPPORT LEVEL : $0.3500-$0.3050
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