As part of his Cardano prize prediction, Cobravanguard cryptographic analyst revealed what must happen so that ADA never falls below the level of $ 0.8. This comes in the middle of the United States’s dry recognition of the Graycale Cardano ETF deposit, providing a bullish perspective for the crypto.
How the Cardano price can never drop below $ 0.8 again
In a TradingView PostCobravanguard noted that the price of Cardano continues to move well in the area. The analyst said that if this corner was broken, market players will no longer see ADA below $ 0.80. The analyst’s support graph has shown that a break above could see Cardano recover the $ 1 in psychological prices.
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This optimistic perspective for the Cardano Prize is involved while the American Securities and Exchange Commission (SEC) Cardano ETF file from Graycale. An ETF is optimistic for the ADA price because it will attract institutional investors and will lead to more entries in the play ecosystem, which could trigger a rally to new heights.
However, in the meantime, the Cardano price seems to be in lower territory, because it has decreased alongside the wider cryptography market. ADA is currently lower than the price level of $ 0.8, which could represent an excellent purchase opportunity, especially if the crypto ends up reviewing this price level, as predicted Cobravanguard.
With regard to short -term lowering prospects for the Cardano price, the Crypto -Bobusy Crypto -Buye analyst also noted that AD barely clings to its level of support at 0.5 Fibonacci. The analyst added that a ventilation below this FIB support could lead to a direct drop at the price of 0.618. Cryptobusy suggested that this ventilation will probably occur as Ada faces significant sale pressure.
A rebound mega arrives for Ada
In a post X, Crypto analyst Sebastian Said that the market participants are preparing for a rebound mega for the Cardano price after this market downward trend. In another article, he noticed that the worst time for sale is currently. He added that in a month, market players will want them to buy more. According to him, the market is an emotional game and the more people capitulate, the more the prices will finally go.
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In the meantime, Crypto Ali Martinez analyst Recently noted that the most critical support area for the Cardano price is between $ 0.67 and $ 0.80. He pointed out that as long as this level holds, the Bull Run of Ada remains intact. Its graphic which accompanies it showed that AD could always reach its current level (ATH) of $ 3.10 and perhaps exceed this price level in this market cycle.
When writing data from CoinMarketCap.
Adobe Stock star image, tradingView.com graphic
