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Cardano course forecast - course breaks out! Is the trend reversal now coming?


 

In our last Cardano price forecast , we wrote about whether the project still has a confident future. Here, however, we have only referred to the technical and not to the fundamental analysis. There we wrote that price could likely target $ 1,485, which is resistance, next. Now the course has broken out of a pattern that we shared in our premium area. Today we want to enlighten you about the Cardano course and reveal how it could continue in the near future.

The Cardano course formed a descending triangle shortly after the crypto crash. This triangle breaks out bearish for the most part because the psychology behind it is bearish. However, the Bitcoin price was able to hold the support of $ 46,450, which is why the Cardano price was also able to hold the support of $ 1,197. The price has now broken the descending triangle trendline and could soon attack the next resistance. This is still around $ 1,485.

We would not yet claim that the Cardano price is bullish. The price is likely to be bullish in the next few days, but we are still in a downtrend overall. In our view, whether to continue bearish or bullish will be decided at the resistance at $ 1.485. Should we break this, the price could rise again to the $ 2 mark. The second option, if resistance holds, is for us to fall back to the $ 1.197 support.

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