ADA Technical Analysis: Should We Expect A Price Above $1.4?

It is quite unusual to see the active growth phase of the ADA cryptocurrency even for a short 2 weeks. The steady downward trend from September 2021 completely killed the hope of the beginning of the active phase of cryptocurrencies growth. However, Cardano was once in the top 5 cryptocurrencies both in terms of trading volumes and growth prospects. Maybe it had a second breath? https://www.tradingview.com/x/nU1LbNlu/ In our previous analysis, we wrote that we expect a test of $1.4. Buyers managed to realize our main scenario. After breaking the local wedge, which sellers have formed since January 2021, the ADA price quickly jumped by 60%. At the same time, trading volumes remained low. In order not to give the initiative to sellers, for buyers at any cost it is necessary to keep control over a mark of $1.1. Keeping this mark, buyers will organize a narrow consolidation range of $1.1-$1.14, which will accumulate positions to break the consolidation up. With such a positive scenario, the next target for the ADA price increase is $2. Loss of customer control over the $1.1 mark will lead to a new fall wave with the first target of $0.9. This mark will make it clear how strong sellers are and whether they will be able to continue falling to $0.7. Technical Analysis Of ADA On The Daily Timeframe https://www.tradingview.com/x/Qq3Lw97q/ Analyzing the ADA price movement on the daily timeframe, we see that buyers are not going to give ...