Cardano might achieve a 100% rebound if this pattern holds true: details CardanoADA ADA CardanoCommunity
The"Cup and Handle" pattern is a bullish pattern that resembles a cup with a handle, where the cup is in the shape of a"u" and the handle has a slight downward drift. The consolidation period is captured within the handle, which is usually followed by a breakout. The target for the cup-and-handle formation is the height of the cup, plus the breakout point of the handle.
For this pattern to gain strength, Cardano bulls might need to squash the horizontal barrier near the daily MA 50 at $0.85. Above that, another barrier is located at the daily MA 200 at $1.19. Rising above these constraints might imply a 100% rally for the eighth largest cryptocurrency, Cardano.Cardano recently found support for declines near the $0.39 level.
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