The graph now shows how that downtrend has continued to persist, yet given the likely soon upward curving of the (as you can see quite clearly in the ("1") under the graph, this might bode well for entering the second half of a figure. Granted, there might be a bit too much to speak of a , but I wanted to let the bulls in your head dream a little ;-)
confirms a somewhat more stance in "2" as it is about to get out of the oversold area in turning more inclined to a bull trend. You can clearly see that Cardano at its “ATH” , had the in the exact opposite area, just as with the by the way.
This makes it at least relevant enough to propose it as a possible scenario that Cardano could be going for! ;-)
PS: I previously suggested a similar formation for ICX:
Conclusion: if this were to pan out as a figure, there lies huge potential in the future price movement for Cardano.
The current retracement implies a potential target of +600% to over 14000 sat.
PS1: This is ONE of several possible scenarios - I'm just sharing it so we can include it in the ideas list!
PS2: This is not investment advice, DYOR.