Cardano price drops to level that sparked a 65% ADA rally in March — will history repeat?

Cardano price drops to level that sparked a 65% ADA rally in March — will history repeat?


Cardano (ADA) price has been rebounding after falling to its worst levels since February 2021. Meanwhile, a technical fractal suggests that ADA’s upside retracement could continue in the coming weeks.

Can ADA price extend the recovery?

ADA’s price has started bouncing after testing the same support area that preceded a 65% bull run in March 2022. 

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Specifically, ADA/USD witnessed a bullish rejection as its price fell below $0.75 on Feb. 24, a move that followed a short period of sideways consolidation.

It later broke out of the flat price range, rising to $1.24 on March 26, indicating a strong buying sentiment near the area around the $0.75-level (the red bar in the chart below).

ADA/USD three-day price chart. Source: TradingView

The March 2022 fractal also showed ADA’s three-day relative strength

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