Cardano\u2019s price has been correcting gradually over the last few months after a significant rally in November.<\/p>\n
Yet, there are multiple strong support levels available to push the price higher in the coming weeks.<\/p>\n
By Edris Derakhshi (TradingRage)<\/a><\/p>\n Looking at the USDT-paired chart, the asset has been trapped inside a large falling wedge pattern below the $1.3 resistance level. Currently, the market is dropping toward the lower boundary of the pattern and the $0.8 support zone, which could result in a bullish rebound.<\/p>\n Yet, even if these levels get broken to the downside, the 200-day moving average, located around the $0.6 mark, will likely prevent the price from dropping lower in the short term.<\/a><\/p>\n Looking at the ADA\/BTC chart, the former has been consolidating between the 1,300 SAT and the 900 SAT levels over the past months.<\/p>\n Currently, the market is testing the 900 SAT support zone and is likely to break it to the downside, with the momentum being bearish. In this case, a deeper decline toward the 200-day moving average, located around the 750 SAT mark, could be expected in the upcoming weeks. LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\nThe USDT Paired Chart<\/h2>\n
The BTC Paired Chart<\/h2>\n
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