Cardano bull move could send ADA to $0.60

ADAUSDT

In the Cardano price analysis, the ADA/USDT pair completed the reversal setup by soaring above the neckline of the inverse H&S pattern on April 13. Usually, after a breakout from a pattern, the price turns down and retests the breakout level. In this case, the ADA/USDT pair may dip to the neckline.

If the price rebounds off this level, it suggests that the bulls have flipped the level into support, which may start an up-move towards the pattern target of $0.60. On the other hand, if the price turns down sharply and breaks below $0.37, it suggests that the breakout above the neckline was a fake out, and the pair may then plunge to $0.30.

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