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Cardano [ADA] hits a price ceiling of $0.388 – Are more gains unlikely?

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Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion Cardano’s [ADA] recovery continues to face challenges but has clawed back some of the gains lost after retracement from mid-February.

At press time, ADA hit a price ceiling of $0.3876, and bears seemed determined to sink to key support at $0.3578. Read Cardano [ADA] Price Prediction 2023-24 So far, the $0.3578 has prevented a dip plunge twice, giving a reprieve to bulls.

The support could be steady if BTC maintains a hold on $28K. However, bulls’ efforts could be complicated if BTC drops below $28K.

Source: ADA/USDT on TradingView The retracement from mid-February saw ADA depreciate by 28%, dropping to $0.30. But the low price saw increased demand, tipping bulls for a recovery.

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