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Mastering Crypto

08/12 13:35

Cardano price analysis

Cardano’s recovery attempt hit a wall at the 20-day EMA ($0.30), which suggests that the bears have not yet given up and are selling on rallies.

The flattish 20-day EMA and the RSI just below the midpoint do not give a clear advantage either to the bulls or the bears. If the buyers kick the price above the downtrend line, the ADA/USDT pair could rise to $0.32 and then to $0.34.

Contrarily, if the price turns down and breaks below $0.28, it will suggest that bears have the upper hand. The pair could then slump to $0.26 and eventually to the vital support at $0.24. The bulls are expected to guard this level with vigor.1691847416763.png

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