Cardano are trading at 1.57 and continue to move within the fall and the downward channel. Moving averages indicate a short-term bearish trend for Cardano. Prices have broken the area between the signal lines upwards, which indicates pressure from the side of selling the asset and a potential continuation of the decline from the current levels. At the moment, we should expect an attempt to develop a correction in the value of a digital asset and a test of the resistance level near the 1.61 area. Where can we expect a rebound again and a continued decline in the Cardano rate with a potential target below the level of 1.20.
Cardano Forecast ADA/USD November 30, 2021
In favor of reducing the ADA/USD quotes, a test of the trend line on the relative strength index (RSI) will come out, as we see, there have already been several tests of this line. The second signal will be a rebound from the upper border of the bullish channel. Cancellation of the option of falling coins will be a strong increase in the value of the asset and a breakdown of the 1.77 area. This will indicate a breakdown of the resistance area and continued growth in the cryptocurrency rate with a potential target above the level of 2.05. With the breakdown of the support area and the closing of the coin quotes below the level of 1.39, we should expect confirmation of the development of the downward trend in LUNA.
Cardano Forecast ADA/USD November 30, 2021 implies an attempt to correct and test the resistance area near the level of 1.61. Where can we expect a rebound and the continuation of the fall in ADA/USD to the area below the level of 1.20. An additional signal in favor of reducing Cardano will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 1.77 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 2.05.
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