Cardano price loses $0.24, can its ascending channel survive?

Cardano price has retreated toward $0.23 after rejection at the top of an ascending parallel channel, bringing the lower boundary near $0.21 into focus as daily and 4-hour momentum weaken. Cardano price traded near $0.232 on Oct. 8, roughly 17% below its recent $0.28 peak. The daily ascending parallel channel remains intact, with its lower boundary near $0.21. Daily RSI fell to 46.02, while the MACD histogram turned negative. Ali Martinez identified $0.21 as a possible downside target if the channel rejection holds. TradingView’s Binance ADA/USDT daily chart showed Cardano at $0.2318 on Oct.

Source: crypto.news