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Cardano Breaks Below $0.50, Increasing Risk of 50% Correction -Breaking


Cardano Cardano Rates Lower Than $0.50, Increasing Risk of 50% Correction
  • (ADA) fell below $0.50 support.
  • A 50% correction towards $0.25 is possible.
  • After a 2.93% price drop over 24 hours, ADA now has a value of $0.5024

Cardano (ADA), has fallen below $0.50 support in the past few hours. There is a greater risk that ADA will close below the vital demand zone. This would increase the chance of a 50% correction towards $0.25.

This possible pessimistic outcome derives from the formation of a bear pennant pattern on ADA’s 12-hour chart.

Cardano’s only chance to disprove the bearish thesis would be to take the $0.55 support. It could prove difficult given the small trading volume in crypto markets right now.

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