Cardano ADA technical analysis zoomed OUT

15 May 2022

I zoomed out to the weekly cardano chart, and the good news is that Cardano did find support around 41 cents the last time we had a correction, the bad news is that all indicators point to this downtrend continuing and in order for the downtrend to break it is going to take an enormous amount of green volume, and given the current market sentiment it is hard to see that happening. Only two years ago ADA was only worth 5 cents, so if it only corrects down to 41c we are very lucky.