Hey trader!
This analysis takes focuses on a bullish trend with some support levels which can influence the price further. As there are some support levels below the price at 0.3400, 0.3047, & 0.2438 respectively, there is a stretch trend for a bullish development in the price. However, it should also be mentioned that some strong resistance levels (0.5117, & 0.2417) can hold back the price and this is also reflected in the Fibonacci target price at 0.4271. It can therefore be concluded that Cardano has strong potential to reach the previous resistance level (0.4217) and create a good return of potentially 22.47% for the speculative investor.
I hope this analysis was instructive and that it can be used in considering whether Cardano will continue its imposed bullish trend.
This analysis takes focuses on a bullish trend with some support levels which can influence the price further. As there are some support levels below the price at 0.3400, 0.3047, & 0.2438 respectively, there is a stretch trend for a bullish development in the price. However, it should also be mentioned that some strong resistance levels (0.5117, & 0.2417) can hold back the price and this is also reflected in the Fibonacci target price at 0.4271. It can therefore be concluded that Cardano has strong potential to reach the previous resistance level (0.4217) and create a good return of potentially 22.47% for the speculative investor.
I hope this analysis was instructive and that it can be used in considering whether Cardano will continue its imposed bullish trend.