Cardano has started its downward trend after setting the price of $ 3 as a historical record in September 2021.
As you can see in the chart, there are three downtrends (blue, red and green) for Cardano. First, it was able to start a climb by breaking the blue trend line and rising to the price of 1.6. But on December 27, 2021, Bitcoin started a sharp decline and Cardano, due to the correlation of Altcoins to Bitcoin, has not escaped this decline and has fallen with Bitcoin. This decline continued until January 10, 2022, which was accompanied by pullback to the downtrend line (blue). As you can see, there is strong support in the $ 1 price range. It can be said that the support of $ 1 and pullback to the trend line has caused the return of Cardano price from this area.
What is expected is that Cardano will be able to see higher prices. In this direction, it has 1.6, 1.77 and 2.4 resistances in front of it. If it can break these resistances from the lead, it is expected to be able to see higher prices and be able to set a new record. ATH can be 4.3.
As you can see in the chart, there are three downtrends (blue, red and green) for Cardano. First, it was able to start a climb by breaking the blue trend line and rising to the price of 1.6. But on December 27, 2021, Bitcoin started a sharp decline and Cardano, due to the correlation of Altcoins to Bitcoin, has not escaped this decline and has fallen with Bitcoin. This decline continued until January 10, 2022, which was accompanied by pullback to the downtrend line (blue). As you can see, there is strong support in the $ 1 price range. It can be said that the support of $ 1 and pullback to the trend line has caused the return of Cardano price from this area.
What is expected is that Cardano will be able to see higher prices. In this direction, it has 1.6, 1.77 and 2.4 resistances in front of it. If it can break these resistances from the lead, it is expected to be able to see higher prices and be able to set a new record. ATH can be 4.3.