Cardano price nears decisive phase, where-in a notable bounce may lead the price above $1.5
The price broke from the downtrend recently and is on the verge to revisit these levels again
Cardano price is on the verge to undergo a significant breakout as the price is approaching very crucial levels. The ADA price that successfully sustained above $1 during a couple of crashes is all set to signal a buy very soon. And hence the upcoming dip may be a short-lived one as a notable uptrend may follow soon.
The price was following a downtrend since the mid of June and after a couple of failed attempts, broke the trend line. Since then the price traded above the levels for quite a long time, until a slight pullback dragged the price close to the trend line. Yet a successful bounce rallied the price above, however, the price is heading towards the line yet again.
The price could revisit the trend line around $1.19 yet again and could either jump to the higher levels or yet again break the trend line. In case of a plunge, it may get back close to $1.12 support levels as it resides currently on strong support levels of $1.21.
However, the plunge may be still much distinct as the price is believed to propel before it even hits the line. As per a popular analyst, Atlas Trades, the ADA price could offer a buy signal. Moreover, Cardano is consolidating close to the nearest support levels. The analyst predicts the significant jump from these levels could uplift the Cardano price close to $1.5 levels.