Relevance up to 15:00 2022-07-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Black lines- bearish channel
Green line- horizontal support
Cardano price is around $0.43. There is no real progress price wise over the last couple of weeks as price is mostly moving sideways. Despite this sideways movement, price remains trapped inside the medium-term bearish channel. Price has now reached the upper channel boundary and there are increased chances that we will see lower price levels. With horizontal support at $0.42, a combination of channel rejection with support break down would be very bearish for Cardano. This could lead price below May lows. Trend remains controlled by bears.
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