How great are chances of ADA to get to the $0.50 mark? CardanoStiftung ADAcoin_ Cardano cardano Cardano_ emurgo_io CardanoCommunity
Cardano is coming back to the local support level at $0.4599, which means that there is a high chance to see a further drop. In this case, the drop can continue to the mark of $0.45.
On the daily time frame, nothing is crucial is hapenning as the price is located in the middle of the channel, between the support at $0.4347 and the resistance at $0.4726.Likely, ongoing sideways trading is the more likely scenario for the next few days. On the bigger chart, Cardano is bearish as bulls could not restore the price to the $0.50 mark and above. From another point of view, the rate is above $0.40, which means that it is too early to consider a further drop. All in all, consolidation between $0.46 and $0.47 is a more probable price action.
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