• Cardano’s (ADA) $1.00 value range is still under threat.
• ADA was closed recently at a 10-month low reflecting recent prices beginning March 16, 2021.
• ADA’s ultimate goal is to surpass $1.08 and become a bullish force.

Cardano’s (ADA) $1.00 value range is still under threat. The March 16, 2021 level of the ADAs prices reflected a 10 month low in price movements. Cardano’s price has steadily maintained the $1.00 value level as its key support. The price of ADAs could drop to below $1.00 due to the current bearish market.

At the moment, the Relative Strength Index of (RSI), is within the 70/30 band. The RSI is now at 40. For the last ten days, the RSI was close to 40. It has not shown any signs of falling.

1-day Chart ADA/USDT (Source: TradingView).

Cardano’s goal is to close above $1.08 in order to launch a strong bullish breakthrough. ADA closed the daily candlesticks below $1.08 in twelve of its previous 12 days.

Tension has grown significantly due to constant tension between the price at $1.00 and the Fibonacci retracement of 50%. A breakthrough might result in the price launching another leg higher.

Cardano will be able, once he has broken through the barrier, to easily reach the $1.30 area for bulls. At $1.30, you will find the Kijun-Sen 38.2 Percent Fibonacci regression, the bottom (Senkou SpA) and the 2022 Volume Point. This, together with oscillators supports a price range break.

Cardano’s value below $1.00 could pose dangers.

When the Relative Strength Index is below 30, it means that the market will be bearish. This would lead to a very pessimistic attitude towards ADA. The Optex Bands will also begin to shift out of neutral territory and into oversold territory.

It is projected that Cardano’s price would revisit the $0.91 lows of 2022.

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