Red lines- trading range
Cardano price continues to move sideways since May. Price has made several attempts to break below $0.39 but it has now formed a lower trading range boundary there as support. On the other hand attempts to push price above $065 have also failed. When price is trading close to the lower trading range boundary, we prefer short-term bullish positions targeting at least the upper range boundary close to $0.65. A break below $0.39 will be a bearish sign and will imply more selling pressures to come.
