Hi friends! Cardano has been in a downtrend for over 8 months now. I can see the first signs of strength appearing on the chart. The volume indicator is showing large sales – it means that the Hodlers have finally been thrown out of the market.

There are 3 value areas on the chart:
✅0.25-0.4 – support area
🎯0.81-0.97 – resistance area , target 1
🎯1.16-1.37 – resistance zone , target 2

Now we can see how the price tested the suppor area and reacted to that support. Additional support is the global trendline, to which price also reacted.

📊The most possible scenario, if Bitcoin will not fall lower, is a consolidation above the support area of $0.25-0.4 and a breakdown of the local trendline, where you can open a long. Examples of a breakdown of the trend line , you can see on the chart.

📊What scenario is also possible? Watch for a false breakout of the key level of $0.4 or the support zone . Why here? Most hodgers will think the price will go even lower, and a big player will collect all their liquidity at these key levels. [bPay attention to the volume indicator! The bars should go up, as shown in the example.

💻Friends, press the “like”👍 button, write comments and share with your friends – it will be the best THANK YOU.

P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.