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

An analyst has explained how Cardano is retesting the support line of a technical analysis (TA) pattern, losing which could spell a bearish outcome for the coin. 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. The pattern in question is the Descending Channel from TA, which occurs when an asset observes consolidation toward a net downside between two parallel trendlines. The top line tracks successive lower highs in the price and the bottom one lower lows source: https://www.newsbtc.com/news/cardano/cardano-drop-0-54-support-out-analyst-says/