An analyst has pointed out how Cardano is retesting a level that has helped the asset&#8217;s price rebound multiple times during the past year. Cardano Is Retesting The Support Level Of A Parallel Channel In a new post on X, analyst Ali Martinez has shared a pattern forming in the daily price of Cardano. The pattern in question is a Parallel Channel, a type of consolidation channel from technical analysis (TA). Related Reading: Bitcoin &#38; Ethereum Social Sentiment Collapses, But XRP Just Sees Disinterest A Parallel Channel forms whenever an asset&#8217;s price trades between two parallel trendlines. If the channel has a positive slope relative to the graph axes, the pattern is called an Ascending Channel. Similarly, the trendlines pointing down create a Descending Channel. In the context of the current discussion, the simplest case of the Parallel Channel is of interest: a channel with a slope exactly equal to zero. This type of pattern corresponds to a phase of true sideways movement in the asset&#8217;s price. Just like other consolidation patterns in TA, the upper line of this pattern is also likely to be a source of resistance, while lower one that of support. If the price manages to break past one of these bounds, it may experience a continuation of trend in that direction. This means that a breakout above the channel can be a bullish signal, while a fall under it a bearish one. Now, here is the chart shared by Martinez that shows the Parallel Channel that the 1-day price of Cardano has been trading inside for the past year: As displayed in the above graph, Cardano has witnessed a plummet toward the Parallel Channel&#8217;s lower level situated at $0.52 with the recent downturn in the cryptocurrency sector. Since ADA started trading inside the channel back in November 2024, its price has rebounded at this line several times. Given this pattern, it&#8217;s possible that the asset may find support at the mark once more. It only remains to be seen, however, whether the Parallel Channel will continue to hold or if a breakdown is coming next. Related Reading: Altcoin Winter Here? Ethereum, Solana Activity Plunges Speaking of Parallel Channels, Ethereum, the cryptocurrency ranked second by market cap, is also trading inside this type of pattern, as the analyst has pointed out in another X post. Unlike ADA&#8217;s channel, this pattern in the 3-day Ethereum price is a long-term one, beginning way back in 2021. ETH found rejection at the resistance of this Parallel Channel earlier in the year and has since been on the way down. &#8220;The worst-case scenario: Ethereum $ETH fails to reclaim $4,000, breaks through $3,800 support, and drops to $2,400 or $1,700,&#8221; said the analyst. ADA Price At the time of writing, Cardano is floating around $0.547, down over 16% in the last seven days. Featured image from Dall-E, charts from TradingView.com

تقوم كاردانو حاليًا بإعادة اختبار مستوى دعم حاسم ساعد تاريخيًا في حدوث انتعاشات كبيرة في الأسعار، وفقًا للمحلل علي مارتينيز. هذا النمط، المعروف باسم القناة المتوازية، يشير إلى أن كاردانو قد تكون على وشك تحقيق حركة صعودية أخرى. هذا الأمر مهم للمستثمرين لأنه يدل على فرص شراء محتملة ويعكس مرونة الأصل في السوق، خاصة في وقت تواجه فيه عملات مشفرة أخرى مثل بيتكوين وإيثريوم تحديات في المشاعر الاجتماعية.

Cardano está actualmente volviendo a probar un nivel de soporte crucial que históricamente ha llevado a rebotes significativos en el precio, según el analista Ali Martinez. Este patrón, identificado como un Canal Paralelo, sugiere que Cardano podría estar a punto de experimentar otro movimiento ascendente. Esto es importante para los inversores, ya que indica oportunidades de compra potenciales y refleja la resiliencia del activo en el mercado, especialmente en un momento en que otras criptomonedas como Bitcoin y Ethereum enfrentan desafíos en el sentimiento social.

Cardano est actuellement en train de tester un niveau de support crucial qui a historiquement conduit à des rebonds de prix significatifs, selon l'analyste Ali Martinez. Ce modèle, identifié comme un canal parallèle, suggère que Cardano pourrait être sur le point de connaître un autre mouvement à la hausse. Cela est important pour les investisseurs car cela indique des opportunités d'achat potentielles et reflète la résilience de l'actif sur le marché, surtout à une époque où d'autres cryptomonnaies comme Bitcoin et Ethereum font face à des défis en matière de sentiment social.

Cardano is currently retesting a crucial support level that has historically led to significant price rebounds, according to analyst Ali Martinez. This pattern, identified as a Parallel Channel, suggests that Cardano could be on the verge of another upward movement. This is important for investors as it indicates potential buying opportunities and reflects the asset's resilience in the market, especially in a time when other cryptocurrencies like Bitcoin and Ethereum are facing social sentiment challenges.

Cardano Retests Line That Has Triggered Strong Rebounds Since Nov 2024

Lower adjusted net asset value multiple means Strategy can no longer issue equity at a premium, threatening its long-term plan to accumulate more bitcoin, analyst Brett Knoblauch wrote.

شهدت أسهم Strategy انخفاضًا كبيرًا، مما دفع Cantor إلى خفض هدفه السعري بسبب انخفاض مضاعف القيمة الصافية للأصول المعدلة. وأشار المحلل بريت كنوبلاخ إلى أن هذه الحالة تمنع Strategy من إصدار الأسهم بسعر أعلى، مما يهدد خططها طويلة الأجل لتجميع المزيد من البيتكوين.

Las acciones de Strategy han experimentado una fuerte caída, lo que llevó a Cantor a reducir su objetivo de precio debido a un múltiplo de valor neto de activos ajustado más bajo. El analista Brett Knoblauch destacó que esta situación impide que Strategy emita acciones a una prima, poniendo en peligro sus planes a largo plazo para acumular más bitcoin.

L'action de Strategy a connu une forte baisse, incitant Cantor à réduire son objectif de prix en raison d'un multiple de valeur nette d'actif ajustée plus bas. L'analyste Brett Knoblauch a souligné que cette situation empêche Strategy d'émettre des actions à un prix supérieur, mettant en péril ses plans à long terme d'accumulation de bitcoin.

Strategy's stock has experienced a significant decline, prompting Cantor to reduce its price target due to a lower adjusted net asset value multiple. Analyst Brett Knoblauch highlighted that this situation prevents Strategy from issuing equity at a premium, jeopardizing its long-term plans to accumulate more bitcoin.

Strategy Stock Still a Buy at Cantor After Plunge Forces Major Price Target Cut

The experience, which is designed to feel like Venmo or Cash App, allows users to earn yield on bitcoin (BTC) and stablecoins and borrow against their holdings.

تعاونت Blockdaemon وVerifiedX لإنشاء تجربة مالية لامركزية (DeFi) سهلة الاستخدام وذاتية الحفظ، تشبه تطبيقات الدفع الشهيرة مثل Venmo وCash App، مما يتيح للمستخدمين كسب عائد على البيتكوين (BTC) والعملات المستقرة مع إمكانية الاقتراض مقابل ممتلكاتهم.

Blockdaemon y VerifiedX han formado una alianza para crear una experiencia de finanzas descentralizadas (DeFi) fácil de usar y auto-custodiada, similar a aplicaciones de pago populares como Venmo y Cash App, que permite a los usuarios ganar rendimiento en bitcoin (BTC) y stablecoins mientras piden prestado contra sus tenencias.

Blockdaemon et VerifiedX ont formé un partenariat pour créer une expérience de finance décentralisée (DeFi) conviviale et auto-custodiale, similaire à des applications de paiement populaires comme Venmo et Cash App, permettant aux utilisateurs de gagner des rendements sur le bitcoin (BTC) et les stablecoins tout en empruntant contre leurs avoirs.

Blockdaemon and VerifiedX have partnered to create a user-friendly, self-custodial decentralized finance (DeFi) experience, akin to popular payment apps like Venmo and Cash App, enabling users to earn yield on bitcoin (BTC) and stablecoins while borrowing against their holdings.

Cardano Retests Line That Has Triggered Strong Rebounds Since Nov 2024

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