How Long Can Cardano (ADA) Continue to Climb?

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In Brief
  • ADA is facing very strong resistance from the 860 satoshi resistance.

  • The price is trading inside a short-term descending triangle.

  • A breakdown towards 700 satoshis is expected.

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The Cardano (ADA) price has increased by 58% since May 18. It has, however, reached an important resistance area that could initiate a severe reversal. This possibility is also supported by the creation of a short-term bearish pattern. ADA's Critical Resistance ADA has increased by 58% over the past 14 days, creating three successive bullish candlesticks in the weekly

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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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