ADA Price Prediction: Healthy Retracement to Key Fibonacci Level Prepares Cardano Price for 16% Rally
ADA Price Prediction: Amid the increasing negativity in the crypto market, the Cardano price showcased a V-top reversal from the peak of $0.46. This correction tumbled the altcoin by 18% and plunged to 32.8% Fibonacci retracement level at local support of $0.377. A retracement to the aforementioned FIB level is considered healthy and increases the possibility of uptrend resumption. advertisement Key Points: The formation of a double bottom pattern could trigger a fresh recovery in Cardano price The post-correction recovery could surge the ADA price 16% higher to challenge the $0.46 swing high The intraday trading volume in the ADA coin is $289.5 Million, indicating an 8.6% gain Source- Tradingview The ongoing correction phase in Cardano price has taken a minor halt at the combined support of $0.377 and 38.2% FIB level. Moreover, the sideways movement above the mentioned support reveals the formation of a double-bottom pattern. ...