The post Watch Out for these Target Levels as Cardano (ADA) Price Gears Toward a Breakdown appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide
Cardano‘s price amid the current bearish trend is on the verge of losing its grip over the bull rally. As the prices currently are on the verge to test the lower support yet again, the possibilities of a rebound are fewer. Therefore, the ADA price is currently swinging within an extreme bearish well, which may result in a loss of another 10% to 12% in its value during the upcoming weekend.
Previously, the ADA prices were swinging within a descending triangle in the short term. With the fresh plunge, the prices are testing the lower support zone somewhere around $0.44 with equal pressure from either of the sides. The upcoming weekend could be pretty crucial for the ADA price as a breakdown is speculated with fewer chances of recovery.
Collectively, the shaky market conditions have dragged the Cardano (ADA) price into a pool of uncertainty. Until the Bitcoin prices settle above $20,000, one cannot expect a healthy rebound in any of the assets. Therfore, the coming weekend is expected to turn the tables for the asset regardless of the direction.