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Cardano Could Drop To $0.54 If This Support Gives Out, Analyst Says

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Cardano Could Drop To $0.54 If This Support Gives Out, Analyst Says - NewsBTC

Quick Summary:

As the analyst has pointed out in another X post, XRP has been trading inside such a channel in the short term.“XRP is trading within an ascending triangle, with key resistance at $2.22,” notes Martinez.“A breakout could spark a move toward $2.40.” ADA Price At the time of writing, Cardano is trading around $0.65, up around 20% in the last week.

Now, here is the chart shared by the analyst that shows the Descending Channel that the 3-day price of Cardano has been trading inside for the last few months: As is visible in the above graph, Cardano found a rebound near the bottom of the channel earlier in the month, although it didn’t actually go low enough to make a proper retest of it.

Cardano Is Currently Trading Inside A Descending Channel In a new post on X, analyst Ali Martinez has talked about a pattern forming in the 3-day price of Cardano.

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Article Details

Author / Journalist: Keshav Verma

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-14 @ 20:30:52 (1 days ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 410 words

Reading Time: 3 minutes read

Sentences: 69 lines

Sentence Length: 6 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 27884014

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Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 5 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 10 hours ago

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Publisher ID: #102

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