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Cardano’s flash collapse strikes significant support, and ADA is expected to revert to $3.00.
After Friday’s selling pressure, Cardano price is one of the few top ten cryptocurrencies to retain a positive weekly candlestick.
Significant short-term support is still available.
A confluence of time cycles and a bullish defense is expected to result in a big bull run.
Cardano’s price was not immune to the enormous overnight flash fall that hit the cryptocurrency market as a whole. Overall, Cardano price behavior continues to disappoint long-term investors — but last week’s trading activity may be an exception. Cardano maintained a positive weekly close despite the tremendous selling pressure on Friday, which saw numerous cryptocurrencies suffer nearly double-digit percentage losses and huge weekly losses.
Cardano’s pricing serves as a launching platform to $3.00 and higher.
Last week’s Cardano price action spent the most of its time establishing and pushing for support at the $1.45 — $1.50 price levels. Near the $1.50 level, several of Cardano’s most important support zones exist: the 2021 Volume Point Of Control and the top of the Cloud (Senkou Span A). Cardano’s ability to maintain this level despite far greater weakness in the altcoin…
