An important support level might be key to the fortunes of Cardano's price prediction as the altcoin continues its recovery rally...
hit a new yearly low in 2024 after dropping to $0.27, breaking the record of its June lows, which was $0.31. However, the June and August rebound for ADA happened above $0.3 on the charts.
If ADA pushes forward with the recovery, there are two immediate bullish targets to consider. The first target would be a 78.6% Fib level , which could translate to about 9% gains if hit. Secondly, the retest of the trendline resistance could yield 29% gains from the breaker block. In short, the conservative recovery target would be the 78.6% Fib level, unless Bitcoin advances further above $60k.Majority of addresses bought ADA near $0.3
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