22.07.202222:10 Forex Analysis & Reviews: Cardano remains asleep for the last two months and a half.

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Red lines- trading range

Cardano price continues to move sideways since May. Price has made several attempts to break below $0.39 but it has now formed a lower trading range boundary there as support. On the other hand attempts to push price above $065 have also failed. When price is trading close to the lower trading range boundary, we prefer short-term bullish positions targeting at least the upper range boundary close to $0.65. A break below $0.39 will be a bearish sign and will imply more selling pressures to come.

Alexandros Yfantis
Analytical expert of InstaForex
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