Cardano ADA price breached through a pivotal barrier level on July 4, indicating a resurgence of buyers. Although the upswing seems likely, a pullback might lead to a breakdown of the immediate support will not invalidate the bullishness.
Cardano ADA price set up three higher highs since June 22 but formed an equal high on July 2. Since this point, Cardano ADA rallied 12% to where it currently trades, $1.434.
There is a chance that the ADA bulls might continue to push Cardano's price higher to subsequent resistance barriers at price of $1.484 and $1.61. However, investors should not neglect the possibility of a downswing that shatters the immediate foothold at a price of $1.40.
Such a move will lead to a further downswing that pushes Cardano ADA down to $1.357. In a highly bearish circumstance, Cardano's price might dip into the demand zone, ranging from $1.287 to $1.318.
While the breakdown of the support might push Cardano's price to $1.251, it would not invalidate the bullish thesis yet.
If this were to happen, Cardano ADA might slide toward the June 23 swing low, where the next demand zone, stretching from a price of $1.156 to $1.20, lies.
Such a move would only delay the impulse wave.
Although Bitcoin BTC has rallied over the weekend, altcoins, including ADA, will promptly follow if it crashes going into Monday. Therefore, investors need to cautious.
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