There’s something I want to point out that might make you all excited. And that is the completion of the consolidation phase and the potential for a major breakout at the moment. There was strong support at the $1.50 level and it tested this region many times, finally breaking through. Given the obvious, it looks like Cardano is taking it’s next price leg up and will head closer to $2.00, potentially over the next few days if momentum holds. The last breakout featured a 335% increase in price. We only need a 47% breakout to reach the $2.00 mark. There’s a lot to be excited about.
On the flip side, gravity is still a factor here. Many investors have been patiently holding their positions for a long time in ADA and may take the chance to secure profit around the $2.00 mark. So don’t be surprised if there is downside resistance at this major psychological barrier. This may even be the next consolidation point.