The Cardano price has been on a slow roll lately, falling out of its $0.7 – $0.8 range over the past week. However, a crypto analyst has emerged with a bullish projection, expecting the altcoin to recover in the coming days. How ADA Price Can Reclaim $0.77 In a video posted on the X platform, popular crypto analyst Ali Martinez shared an exciting analysis of the Cardano price, putting forward a short-term target for the altcoin. According to the online pundit, the ADA token is trading at a critical support level and could be on its way to $0.77 over the next few days. This bullish projection is based on the formation of a horizontal channel pattern for the ADA price on the 3-hour timeframe. This channel is characterized by two major boundaries with at least four contact points, including two connecting lows and two connecting swing highs. Related Reading: Ethereum Price Hits 300-Week MA For The Second Time Ever, Here’s What Happened In 2022 Typically, the upper boundary where the pivot highs form represents the resistance for the asset’s price ..
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