Bounce on 1.10 of Cardano, Appreciation of over 40% in sight?

The Cardano price has depreciated by more than -59% since the beginning of September but the 1.10 support has kept sellers at bay by reacting vigorously and pushing back the cryptocurrency above 1.12. This led to a scenario that had been set aside in recent months. There is still considerable resistance for the bulls but an upward move by the crypto queen Bitcoin would allow Cardano to hit the first technical target at $ 1.54.

From a fundamental point of view (one of the real catalysts of the ups and downs of the crypto world) Cardano has stood out as one of the best and high-performance crypto projects, despite not having a fully functional DApp (decentralized apps).

But something is changing for Cardano

A new crypto project, Ravendex.io, intends to change things in the Cardano ecosystem, declaring it wants to build the first fully decentralized exchange platform. Ravendex became famous the previous year with the announcement of the launch of her project through a post on the popular bitcointalk forum. Ravendex is the first non-custodial decentralized Exchange on the Cardano Blockchain that allows for a fast and almost instantaneous transfer of assets and liquidity between native Cardano tokens and ADAs (source ravendex.io).

There are currently several active Cardano-based projects but not like Ravendex’s, as they are the first project that takes full advantage of the Cardano ecosystem. Once fully launched, the Ravendex project would increase the adoption and total value of the Cardano ecosystem (and consequently the price of ADA).

Techno-Graphic Analysis and Cardano forecasts

At the time of writing, Cardano’s price is $ 1.2420, on the verge of moving higher after bouncing off the upper bound of the demand area to $ 1.10.

Upside that would allow ADA to quickly reach its first short-term target of $ 1.54 and, after a possible physiological retracement to $ 1.40, to extend the upside and reach the lower bound of the supply area at 1. , $ 8664.

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