Despite the recent market sell-off, Cardano price has managed to defend a crucial support trendline. The digital asset seems to be poised to resume its previous uptrend after a short correction. Cardano has been trading in a robust uptrend since December 2020 and despite the recent market sell-off in the past 48 hours, the digital asset has defended a crucial trendline support and aims for a breakout above $0.40. Cardano price remains bullish despite brief pullback On the 4-hour chart, a support trendline was formed since January 4 and has been defended on several occasions in the past. Bulls just did it again after Cardano price plummeted from $0.36 to a low of $0.28. ADA/USD 4-hour chart Investors quickly bought the dip pushing ADA towards a current level of $0.35 and above the ascending trendline. The In/Out of the Money Around Price (IOMAP) model indicates that the strongest resistance area is located between $0.37 and $0.38 which means a breakout above this point would quickly drive Cardano price above $0.40. ADA IOMAP However, it also indicates that a loss of the critical support range between $0.329 and $0.339 could lead Cardano towards the psychological level at $0.30. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next WTI consolidates around $52.50 mark, unfazed by surprise EIA inventory build FX Street 1 year Despite the recent market sell-off, Cardano price has managed to defend a crucial support trendline. The digital asset seems to be poised to resume its previous uptrend after a short correction. Cardano has been trading in a robust uptrend since December 2020 and despite the recent market sell-off in the past 48 hours, the digital asset has defended a crucial trendline support and aims for a breakout above $0.40. Cardano price remains bullish despite brief pullback On the 4-hour chart, a support trendline was formed since January 4 and has been defended on several occasions in the past. Bulls just… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.