Jason Pizzino Looks Into What’s Next For Cardano (ADA), Amid Recent Rally

Jason Pizzino, a crypto analyst and trader is looking into Cardano (ADA) amid the recent 30% rally.

In a recent video, the analyst shared with his 262K subscribers that ADA might be going through a relief rally being on a bearish downturn since September last year.

“Basically [ADA] has been down almost straight for one, two, three, four, five months… Five months down is one of the longest, if not the longest period, that ADA has been down for straight in its entire history…

The positive I can see from this is it’s probably time for a relief rally. The markets found some sort of low at around mid $0.70. It’s found its way back to the previous support level of $1 and looking likely we are trying on our next attempt of a relief rally.”

According to Pizzino, ADA faces immediate resistance at around $1.20, and is trading at the time of writing at $1.15, up 5% on the past 24 hours time frame.

The analyst expects ADA to pull back down to $0.75-$0.80 and establish a bullish higher-low setup before potentially flipping bullish.

“Best-case scenario for ADA at this point is if we do hit that downtrend, break it and then start to slow the bleed, I think that might give ADA a possibility of not seeing a lower price than $0.75…

I don’t need to rush into jumping in on anything especially as it starts to move. I think we’ll probably come back down and test some sort of pricing in this region $0.80, maybe up to $1 somewhere.”