Cardano Analysis, July 12, 2025
Cardano on the M15 timeframe: At the peak of the movement, a candlestick with a small body and a long upper shadow is seen, indicating distribution or profit-taking. Subsequently, a large bearish candlestick appears, indicating significant selling pressure, sending the price sharply lower. Currently, the price is testing a key support area formed during the previous consolidation phase, right in the green zone on the chart. A candlestick with a fairly long lower shadow is also visible, indicating a temporary rejection in this area, although confirmation of a bounce is not yet fully apparent. We can try to buy now with a stop-loss placed at 0.67772 and a take-profit placed at the nearest resistance area.