Cardano (ADA) technical price analysis Nov. 7


Cardano’s recent performance has been nothing short of impressive as it successfully breached the critical resistance level at $0.300, setting the stage for a promising upward trajectory. However, the journey ahead hinges on the next pivotal milestone, marked at $0.380.


The significance of this $0.380 resistance level cannot be overstated, as it will determine the cryptocurrency’s immediate fate. Should Cardano manage to surmount this barrier, it’s poised to embark on an exciting journey towards higher price targets, specifically $0.42 and $0.46. These levels have been historically key milestones, and breaking them could signal further substantial gains.


Conversely, should Cardano falter and fail to breach the $0.380 threshold, it may experience a corrective phase, potentially retreating back to the $0.300 level. This correction is a natural part of the price discovery process in the cryptocurrency market and should not be viewed as a long-term setback. Investors and traders should keep a close eye on the developments around the $0.380 level, as it is likely to be a pivotal moment for Cardano’s price action in the near term.


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