CARDANO Can it make a strong Bear Cycle rally?

Cardano (ADAUSD) has been trading within a Channel Down since its December 02 2024 weekly top and undeniably has (long) started its new Bear Cycle.

This Channel Down has however bottomed (Lower Low) and with the 1W RSI hitting also its 3 year Support (essentially the Support of the whole Bull Cycle), it is possible to give us a strong Bear Cycle rally.

This rally would technically be the pattern's new Bullish Leg with the previous two both peaking on the 0.8 Fibonacci level. This time however, ADA is trading below its 1W MA50 (blue trend-line) and during Bear Cycle's, that is the trend's main Resistance.

As a result, we believe the rebound is limited at a maximum price of $0.6500.

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