Cardano Could Confirm Bottom By Reclaiming This Area | Coin of The Week

Cardano price prediction: Has Cardano reached the bottom? ADA has been showing bullish signs since Oct. 21 and would confirm its bottom with a reclaim of the $0.43 area. The technical analysis from the daily time frame supports the findings from the weekly one. After breaking down from a symmetrical triangle on Oct. 4, the price of ADA reached a low of $0.33 on Oct. 21. The price action since the breakdown shows a completed five-wave downward movement. The movement since has been bullish. ADA began an upward movement and reached a maximum price of $0.44 before falling. Afterward, the Cardano price increased once more over the past 24 hours, but the breakout attempt was similarly unsuccessful. The highs validated the $0.43 area as resistance (red icons). As a result, the daily time frame readings substantiate those from the weekly chart and suggest that a bullish price reversal is in place.