The crypto space after a dreadful of huge losses appears to have set back on track with a decent rebound. The Bitcoin price which was expected to plunge below $40K is now sustained above $43K. And Ethereum price regained $3000 position after slumping down close to $2900. Yet the leader remained Cardano price which withstood the crash like a giant and refused to tank below $2.
Currently, the ADA price is undergoing a healthy consolidation and hence the upcoming move could gather good profits. The price is heading strongly to the immediate resistance levels around $2.4. And further, attempt to break the channel at $2.47. With the successful breach from the pattern, the price could ignite towards the next target.
The ADA price currently appears to have formed the falling wedge, and as an outcome, the price could tend to raise a massive leg up. The price during the plunge rebounded firmly at the support levels at $1.97 and is marching high. The ADA community once again uplifted the price without allowing it to decline, incurring heavy losses. However, $2.4 levels appear pretty important as ranging above these levels could trigger the price to smash the ATH very close to $3.
Collectively, Cardano(ADA) price proved to be among the better investments over time, as the asset refuses to slump drastically as of now. However, minor corrections do act as a barrier to the rally, yet the bullish momentum could be well in place.