Analysis: Cardano’s ADA Breaks Uptrend, Risks Another 20% Drop
Uk Jin
Summary
- Cardano’s ADA token has broken below the uptrend that had been in place since late June and could face a deeper correction.
- Ali Martinez identified $0.220 as a key price level, saying it could act as resistance.
- He said that if $0.220 acts as resistance, ADA could fall another 20% to $0.166.
Forecast Trend Report by Period
Cardano’s ADA token has broken below the uptrend that had been in place since late June, signaling the potential for a deeper correction, according to analyst Ali Martinez.
Martinez wrote in a post on X, formerly Twitter, on October 24 that ADA had fallen out of its upward trend.
He identified $0.220 as the next key level. As long as that price acts as resistance, ADA could fall another 20% to $0.166.
As of 4:50 p.m., ADA was trading at $0.2088, down 3.32% from a day earlier.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.