Cardano is this the chance for a 100% price gain?

In our last Cardano price forecast , we wrote about a possible trend reversal. We wrote that the price broke a trend line and could now rise to the next resistance. That resistance was around $ 1,485. Once price reached this resistance, there were two options that price could move further. Either the price breaks the $ 1.485 resistance and then continues to rise to the $ 1.829 - $ 2 resistance area, or we bounce off the resistance and we drop back to the $ 1.197 support. The rate had chosen the second option and is corrected to $ 1,197. But how could the Cardano course continue? We enlighten you.

Cardano price has broken the support around $ 1,197 in the past few days. Since we had a clear daily closing price below $ 1.197, we expect a confirmed break of the support. We could see a retest of the former support in the next few days, but this would further confirm the breakout and is therefore bearish. Since there is no further support between $ 1 and $ 1.197 in the daily chart, we assume a dip in the area of $ 1. The Cardano rate could also drop below $ 1. We are currently seeing a maximum price loss of up to $ 0.943.

During the time when the Cardano rate often got into the range of $ 1, the rate could rise more sharply each time. On average, the price has risen by over 100% each time. Now it could happen again. The Cardano price could drop to $ 1 in the near future and then pump to at least $ 1,485. Should the $ 1.485 not hold up as resistance, the price could rise to $ 1.829- $ 2.

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