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Cardano price drops to level that sparked a 65% ADA rally in March — Will history repeat?

Published 05/03/2022, 08:53 AM
Updated 05/03/2022, 11:00 AM
Cardano price drops to level that sparked a 65% ADA rally in March — Will history repeat?

Cardano (ADA) price has been rebounding after falling to its worst levels since February 2021. Meanwhile, a technical fractal suggests that ADA's upside retracement could continue in the coming weeks.

ADA's price has started bouncing after testing the same support area that preceded a 65% bull run in March 2022.

ADA/USD three-day price chart. Source: TradingView
ADA/USD three-day price chart featuring rebound target. Source: TradingView
Cardano 1M to 10M ADA whales supply. Source: Santiment
ADA/USD daily price chart featuring key technical upgrades. Source: TradingView

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Cardano is great technology for the future of smart contracts.
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