Cardano has not found bottom yet, but It's very, very close.
Let's look at some indicators:
On the weekly chart, Cardano is not oversold yet, it still has some more room to go down.
On the daily chart, the bullish divergence is forming but it's not quite clear at this time, the divergence will look more significant when Cardano falls to 635 Sats area
On Ichimoku, Cardano is still sitting under the cloud, the cloud has been acting as the resistance for a long time. Yet as we look closely, the cloud gets thinner and thinner which indicates that the resistance is getting weaker.
Volume is still low, it's hard to see a big movement at this time, Cardano might keep bleeding until it hit the support at 635 SAT
So how to play this chart?
Entry 600 - 650 Sats.
Take profit 1000 Sats ( Next big resistance )
Profit ( > 50% )
On the weekly chart, Cardano is not oversold yet, it still has some more room to go down.
On the daily chart, the bullish divergence is forming but it's not quite clear at this time, the divergence will look more significant when Cardano falls to 635 Sats area
On Ichimoku, Cardano is still sitting under the cloud, the cloud has been acting as the resistance for a long time. Yet as we look closely, the cloud gets thinner and thinner which indicates that the resistance is getting weaker.
Volume is still low, it's hard to see a big movement at this time, Cardano might keep bleeding until it hit the support at 635 SAT
So how to play this chart?
Entry 600 - 650 Sats.
Take profit 1000 Sats ( Next big resistance )
Profit ( > 50% )