The Cardano price has experienced a bearish trend in the past week, with a significant drop below the $1 level. Speculation in the market could lead to further declines or a potential bullish reversal. Currently trading at $0.90, the price has shown some recovery after a bearish weekend. ADA struggles to maintain levels above the 50-day EMA line and faces resistance at the $0.85 level. However, there is potential for a bounce back to the $1 level and a target of $1.239 if the broader market recovers. On the downside, a breakdown could see a retest of the 100-day EMA line at $0.727. Despite short-term risks, an independent analyst suggests the possibility of Cardano reaching $6 but expects a major correction similar to 2020.



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