Cardano (island) lost 9 %in the last 24 hours, fell below the $ 1 level. The island, which is currently traded at $ 0.80, caused investors to act with the expectation of rise again despite the harsh decline in the market. Technical indicators indicate that the island may experience a strong recovery.
Cardano investors are waiting for recovery
Cardano’s funding rate is preparing to return to positive after a long break. This change shows that sales pressure is reduced and investors are now opening more long positions.
Especially the island, which declined to $ 0.80, may have offered new purchase opportunities for investors. The profit of long -term investors in the market reduces sales pressure. If this trend persists, the island price may rise in a short time.
Can the island go back to $ 1?
Cardano had lost 16.8 %in the last 48 hours and was forced to overcome $ 0.99 resistance. However, maintaining $ 0.77 support shows that the price can make upward leap from here.
If Cardano reclaims $ 0.85, it may be possible for the price to test $ 0.99 again and to support the $ 1 level. However, if sales pressure increases throughout the market, the island may decrease to $ 0.70.
Critical levels for Cardano
Currently, eyes are at $ 0.85. If the island exceeds this threshold, it may enter the ascension trend again. However, if the market continues to follow negative, the possibility of a greater drop for Cardano may be on the table.
The latest situation for the island: Is it ascension or a larger decline?
Cardano investors closely monitor whether the change and critical support levels in the funding rate can be preserved. If Cardano may exceed $ 0.85, the probability of testing $ 0.99 again may be strengthened. However, if the sales pressure increases throughout the market and the island loses $ 0.77, it may decrease to $ 0.70.
In this process, the general tendency of the market and Bitcoin’s movements will play an important role in determining the direction of the island. Investors should carefully follow critical price levels and volume changes in the coming days. If buyers return to the market, a new wave of rise may begin for Cardano. Investors should closely follow the price movements of the island in the coming days!
