FX.co ★ Cardano remains trapped inside trading range

Red lines- trading range

Since May of 2022 Cardano has made no real progress as price is moving mostly sideways inside a trading range between $0.38 and $0.65. Price is now trading close to the lower boundary of the trading range. Trading is very tricky when price is moving sideways and that is why we noted that traders should be patient for price to exit the range before opening positions. Trading inside the trading range is very tricky and price action might be misleading. However aggressive traders would buy when price is close to lower boundary and sell near upper boundary.