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Cardano price analysis
Buyers are trying to push Cardano
ADA
$0.7803
back above the breakdown level of $0.80, but the bears are unlikely to give up easily.
If the bulls do not give up much ground from $0.80, the possibility of a break above the 20-day EMA ($0.81) increases. That opens the doors for a rally to the 50-day SMA ($0.92). Buyers will have to overcome the barrier at the 50-day SMA to signal that the ADA/USDT pair may have bottomed out in the short term.
This positive view will be invalidated in the near term if the price turns down and breaks below $0.65. The pair may then slump to $0.50.
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