By en.coin-turk.com on August 15, 2023
Cardano (ADA), one of the top altcoins, has seen a decline of over 23% in the past month. This price drop resulted in a falling wedge formation on the daily timeframe price chart of the altcoin. The formation is characterized by gradually decreasing prices and converging trend lines, and its completion as expected could indicate a significant bullish signal. Here is the meaning of the falling wedge formation for ADA. Cardano Price Analysis The price of ADA continues to decrease in response to the increasing downward momentum in the cryptocurrency market. In the midst of this decline, sellers have pushed the price below the $0.3 resistance level, supporting the possibility of further declines. If the falling wedge formation on ADA’s daily timeframe price chart does not break the resistance trend line, the price could decline to around $0.275 and the downtrend could continue. However, investors waiting for a buying opportunity […]
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