Cardano’s worst week since May 2021 is over — Will ADA price rebound 40%?

Cardano (ADA) bounced decently after nosediving almost 30% in the last week, its worst seven-day efficiency because May 2021, when the Terra collapse triggered a cryptocurrency market crash.Nonetheless, ADA looks ready to go through a sharp healing in the coming months, based on technical analysis.ADA price up 30% from six-month lowsOn June 12, ADA price rose 2.25% to $0.28, up around 27% from the six-month low of $0.22 last week. The ADA price had actually leapt 900% 4 months after March 2020s oversold readings. On the three-day chart, ADA appears rangebound inside the $0.247– 0.382 area, comparable to its cost patterns in January 2021 and January 2023, as shown below.ADA/ USD 3D cost chart.

Thank you for reading this post, don't forget to subscribe!

Cardano (ADA) bounced modestly after nosediving nearly 30% in the last week, its worst seven-day efficiency considering that May 2021, when the Terra collapse triggered a cryptocurrency market crash.Nonetheless, ADA looks ready to undergo a sharp recovery in the coming months, based on technical analysis.ADA cost up 30% from six-month lowsOn June 12, ADA price rose 2.25% to $0.28, up around 27% from the six-month low of $0.22 last week. The ADA price had leapt 900% 4 months after March 2020s oversold readings. On the three-day chart, ADA appears rangebound inside the $0.247– 0.382 location, similar to its price patterns in January 2021 and January 2023, as shown below.ADA/ USD 3D rate chart.