Pro Charts: Crypto

Cardano (ADA/USD) Key Breakout And Breakdown Levels

Updated: Apr 22, 2024 | Published: Mar 26, 2024
Verified Investing
By Verified Investing
Cardano (ADA/USD) Key Breakout And Breakdown Levels

Cardano (ADA/USD) is holding within a wedge pattern. Wedge patterns are consolidation ranges that get tighter and tighter. Eventually price is either forced to breakout or breakdown. Here are the levels to watch.

Cardano breaks out if it starts trading above $0.80. This could send it as high as $1.20. However, if Cardano breaks below $0.61 it would open the door for a drop $0.45.

Risk on or risk off will likely be the determining factor for Cardano. Keep a close eye on these levels.