Cardano has recently broken through a key resistance, indicating a potential bullish uptrend according to analyst 'MyCryptoParadise'. This price movement in its Falling Wedge pattern is often a positive signal for trend reversals. The analyst has identified a crucial demand zone at $0.0313, where a strong rebound could initiate further upward movement.
Should Cardano successfully rally past the $0.417 mark, it could signify a notable market structure change. Despite prior criticisms and muted growth, recent gains in price and trading volume have shown renewed investor interest.
However, maintaining the $0.313 support level is critical. Failing this, Cardano risks a decline to the support zone between $0.274 and $0.290. A daily close below $0.274 could invalidate the bullish projection, leading to further price drops and new lows.
