27.06.202215:54 Forex Analysis & Reviews: No real progress for Cardano the last two months.

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Black lines- bearish channel

Cardano price is around $0.48 almost where it was back in the beginning of May. Price remains trapped inside a downward sloping bearish channel. For the last two months price is mostly moving sideways. Resistance by the bearish channel is found at $0.535. The RSI has moved above oversold levels into neutral territory. A rejection at current levels could lead to new lows in Cardano towards $0.30. Traders need to be cautious. There is no sign of a reversal in trend.

Alexandros Yfantis
Analytical expert of InstaForex
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