Cardano is extremely oversold on all timeframes and soon we may touch the bottom and make strong upward correction movement, we are very close to strong support level.
From fundamental point of view, since 5 March, Cardano will have roadmap update and we can expect strong bullish movement.
The first risk point, when upward movement can be slowed down is crossing of Gann fan ½ level and Fibo 0.786. If we go upper this point the most probable next target will be $11000.
According to the short trend line, we have a possibility to go under red risk line straight up.
From the fundamental point of view, we can see neutral news background, but some...
For now, we made correction movement to 0.618 fibonacci level and if we go under this level we will go further until 0.5 fibonacci level of 0.0144 BTC price. Also, there is a big chance to move back into the previous upward channel.
The most probable variant is going down to the price of 0.5 fibonacci level, because RSI is uncertain, but MACD shows downward...