ADA showing support at $2

Earlier last month, the Bulls held the line at $1 and now the bulls are holding the line at $2 which is the low fib retracement.
This is a strong support

We are near the bottom of the long-term channel, which tells me we are still in a long-term uptrend on Cardano, despite being in a short-term down trend.

A good level to accumulate. I expect to see a bullish bounce.