Cardano price is set for a rally that could see a 77.68% breakout on the heels of its cross-chain update which aims to unlock smart contracts and DeFi on Bitcoin. Moreover, the price action also comes on the background of Bitcoin’s recent performance, where the leading asset is only 2% away from its previous all-time high. Ascending Channel Suggests Cardano Price is Heading for a Rally Cardano price experienced a significant downturn, declining approximately 56.54% from its March 3 peak of $1.176 to a low of $0.5111. This correction signaled a bearish trend that persisted over several weeks. Only recently did Cardano’s price action start showing signs of recovery after flipping the $0.5111 level into support and rallying to a local high of $0.8650 where it faced rejection. While the price has since undergone a slight correction to $0.75655, an ascending channel has formed that suggests renewed bullish momentum. Moreover,… Read More at Coingape.com
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