Cardano, Here Is What We Should Assume From These Volatile Move!

Hello Traders Investors And Community, welcome to this update-analysis about Cardano 4-Hour timeframe perspective where we are looking at the recent events, the curren formation, what to expect from the pair the next times and how to handle possible upcoming situation. Cardano is a pair which is not really moving with bitcoin and other mayor crpyotcurrencies as it has shown rallies before and antyciclical to cryptocurrency already several times in the past, such movements can we see the last times again as cardano has shown some volatile movements in the short-term to test its upper boundaries where it now consolidates to either reverse in this range to the downside or manage a breakout above resistance which is currently the more unlikely scenario, in this case I detected some important signals which can lead to the proper outcome which can be traded when confirmed rightly which is important in this structure.

Looking at my chart you can watch that Cardano is building somewhat of a symmetrical trianlge between the EMA-structure and the upper boundary of the huge descending-channel. This structure can either break to the up or downside and as Cardano has still important resistance levels above and has shown bearish signs the last times the bearish breakout is within a more possible range with a possibility of 65 % this means the bearish breakout is 65 % more possible than the bullish with 35 % as there are still these solid resistance levels. In this case the bearish scenario will confirm with a decisive move below the EMA structure which cardano by the way currently prooves, when this happens it will look for the first remaining support which is the middle-line of the channel, when this support holds cardano can reverse here otherwise it will fall more when closing below it.

In this manner, thank you for watching, support for more market insight and have a good day!
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Information provided is only educational and should not be used to take action in the markets