✊🏻🥺✊🏻 📉CARDANO $ADA PLUNGES 11% ⋙ 📈BUT ANALYST SEES 61% UPSIDE❗
Crypto $ADA is facing strong selling pressure again. But while some of the market fears further declines, a technical forecast is drawing attention.
📉 CARDANO » −11.57% THIS WEEK
According to data analyzed on October 17, ADA was trading near $0.223, under pressure after losing important support levels.
But analyst Nehal has identified a possible recovery scenario.
🔥 BULLISH TARGET » $0.36
That would represent a potential gain of approximately 61% from the price of $0.223.
There is just one key detail:
THIS UPSIDE HAS NOT YET BEEN CONFIRMED.
For the bullish scenario to gain traction, Cardano needs to break above its descending trendline and sustain its recovery.
The levels to watch:
🔴 $0.21 » DECISIVE SUPPORT
🟡 $0.24 » $0.244 » RESISTANCE ZONE
🟢 $0.30 » $0.36 » CONDITIONAL TARGETS
The daily RSI indicator was near 42, showing weakening buying momentum, but had not yet reached the traditional oversold zone.
And the risks remain.
⚠️ IF ADA LOSES $0.21, THE ANALYST’S BULLISH THESIS WILL BE INVALIDATED.
So, this is not a guaranteed rally, but a technical zone that could determine the next move.
The contrast is striking:
ADA FELL 11% » BUT THE MARKET IS WATCHING FOR A POSSIBLE REBOUND TO $0.36.
The big question is whether buyers will have enough strength to reclaim the lost resistance levels.
🔥 IS CARDANO PREPARING A COMEBACK, OR IS MORE DOWNSIDE STILL AHEAD?
⚠️ The channel @Leandro Fumão Crypto here on Binance Square 🗣️ Reminder » This is an informational and educational analysis » This is not financial advice » Always do your own research before investing. 👨🎓📚
#Cardano #ADA #Cripto
Crypto $ADA is facing strong selling pressure again. But while some of the market fears further declines, a technical forecast is drawing attention.
📉 CARDANO » −11.57% THIS WEEK
According to data analyzed on October 17, ADA was trading near $0.223, under pressure after losing important support levels.
But analyst Nehal has identified a possible recovery scenario.
🔥 BULLISH TARGET » $0.36
That would represent a potential gain of approximately 61% from the price of $0.223.
There is just one key detail:
THIS UPSIDE HAS NOT YET BEEN CONFIRMED.
For the bullish scenario to gain traction, Cardano needs to break above its descending trendline and sustain its recovery.
The levels to watch:
🔴 $0.21 » DECISIVE SUPPORT
🟡 $0.24 » $0.244 » RESISTANCE ZONE
🟢 $0.30 » $0.36 » CONDITIONAL TARGETS
The daily RSI indicator was near 42, showing weakening buying momentum, but had not yet reached the traditional oversold zone.
And the risks remain.
⚠️ IF ADA LOSES $0.21, THE ANALYST’S BULLISH THESIS WILL BE INVALIDATED.
So, this is not a guaranteed rally, but a technical zone that could determine the next move.
The contrast is striking:
ADA FELL 11% » BUT THE MARKET IS WATCHING FOR A POSSIBLE REBOUND TO $0.36.
The big question is whether buyers will have enough strength to reclaim the lost resistance levels.
🔥 IS CARDANO PREPARING A COMEBACK, OR IS MORE DOWNSIDE STILL AHEAD?
⚠️ The channel @Leandro Fumão Crypto here on Binance Square 🗣️ Reminder » This is an informational and educational analysis » This is not financial advice » Always do your own research before investing. 👨🎓📚
#Cardano #ADA #Cripto