ADA dip buyers defend key support: Will the bounce lead to $1?

ADA bounces off $0.75 support as bulls eye a rally toward $1, but resistance at $0.94 could pose a challenge for the next leg higher.

Key point:

ADA rebounded off a strong support, increasing the likelihood of a break above the $0.94 resistance. 

Strong rallies are generally followed by equally sharp declines. That is what happened with several altcoins, and Cardano (ADA) is no exception. Usually, the pullback shakes out the weak hands before resuming the uptrend.

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