The post Cardano Price Prediction For November 27 appeared first on Coinpedia Fintech News
Cardano’s ADA is currently trading below the crucial $1 mark and is down by more than three percent in the last 24 hours. The coin is facing resistance at a crucial level known as the “golden pocket.” This resistance is between $1.13 and $1.23. Analyst Josh of Crypto World gave a detailed analysis in his latest video. Here’s a breakdown of the analysis:
Support Around $0.82 to $0.83
Right now, Cardano is testing its 50% Fibonacci retracement level, which previously acted as resistance but should now serve as support. This level is around $0.82 to $0.83. If Cardano holds above this range, it may find support here and bounce back. However, if the price drops below this level, further downside could be expected.
Potential Breakout to $1.76
If Cardano manages to break through the golden pocket resistance zone (between $1.13 and $1.23), the next major target could be around $1.76. However, this move will only happen after a confirmed breakout above the resistance zone, which has not occurred yet.
Short-Term Bearish Trend Observed
Cardano is currently in a descending parallel channel, indicating a short-term bearish trend. While the long-term outlook remains bullish, with higher lows and higher highs, the short-term trend is currently down.
Support Levels to Watch
For the short-term, Cardano is testing a golden pocket support level between $0.88 and $0.89. If this level breaks, the next support could be around $0.83. If that doesn’t hold, the price may drop further toward $0.76 to $0.77.
Resistance Levels to Monitor
On the upside, Cardano faces resistance around $0.94, with further resistance at $0.98 and near $1.07. These levels could prevent the price from moving higher if the bearish trend continues.
The post Cardano Price Prediction For November 27 appeared first on Coinpedia Fintech News
Cardano’s ADA is currently trading below the crucial $1 mark and is down by more than three percent in the last 24 hours. The coin is facing resistance at a crucial level known as the “golden pocket.” This resistance is between $1.13 and $1.23. Analyst Josh of Crypto World gave a detailed analysis in his …
This articles is written by : Nermeen Nabil Khear Abdelmalak
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