According to analyst Ali, Cardano has been trading within a rising parallel channel since the end of June, advancing from a low of $0.138 to a high of $0.282. The price now appears to have broken below the channel’s lower boundary, making $0.220 a key resistance level and opening the way to a possible decline of roughly 20% toward $0.166. The SuperTrend indicator has turned bearish, a signal comparable to the one recorded on May 22, which was followed by a 46% correction. At the time of writing, ADA was down 4.03% over 24 hours at $0.20 and 6.05% over the past week, while the launch of the public Dijkstra testnet advances testing for Cardano’s next major upgrade.
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