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What will it take for Cardano to reach for the $2.14 – $2.23 zone once again
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Although Cardano drifted within a tight channel in October, sellers have managed to bust open the cracks in the market. The period between 27 October-28 October, saw ADA shed nearly 13% of its value due to a symmetrical triangle breakdown, before a broader market recovery rescued the alt from monthly lows.
Despite some buy signals emerging on the MACD and Awesome Oscillator, ADA needed to retake key zones before falling back within a bullish-bias.
Source: ADA/USD, TradingView
ADA lined up a possible 20% decline from a symmetrical triangle setup which lasted for the entirety of October. As ADA slipped beneath the critical $2.07-mark, sellers managed to initiate a breakdown from the pattern. Although ADA was yet to meet its target around $1.70,
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