Cardano, When This Triangle Confirms Next Steps Establish!

BINANCE:ADAUSD   Cardano / US Dollar (calculated by TradingView)
Hello Traders Investors And Community,

Cardano is showing up with some very interesting signs the last times, as the bearishness established with increased volatility it seems to stabilize somewhat in the structure now and forming a decisive formation that can show up with the proper further conclusions, there are however some important steps Cardano has to show up with to confirm the triangle with a bullish breakout and show up with upcoming potentials, therefore I detected all the important levels and likely scenarios we should consider with Cardano currently.

When looking at my chart you can watch there Cardano now building this massive triangle-formation marked in blue with the established wave-count where the waves A-C already formed and now Cardano setting up to form the next major wave D that will lead into the lower boundary and the back-up-cluster lying there that can be the origin of the final wave E to the upside that can show up with the final bullish breakout that is the most likely at the moment compared to the bullish one, this breakout will fully emerge when Cardano moves above the upper boundary and closes there as it is marked in my chart, when Cardano shows up with such price-action it can manage to move on further and test the upper levels of resistance as it is marked in my chart from where further alignments either up or down can be measured.

In this whole structure and considering the bullish scenario it is highly important that Cardano holds the support sustainably and forms the bullish price-action as suggested, when this does not happen and Cardano moves below the lower boundary and closes there this will firstly invalidate the bullish sight and show up with increase bearish pressure, the next times will show how Cardano manages to complete the triangle and show up with the more likely bullish breakout, when this happens Cardano has some solid potentials.

In this manner, thank you, everybody, for watching, have a good day as well as good trading, all the best!
“Prospect is the ingredient of good fortune.”

Information provided is only educational and should not be used to take action in the market.
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Post your comments, questions, and ideas about CARDANO here.
+2 Reply
Hi always enjoy your analysis. Too the point. Does it look like it will ever reach its ATH again? What would happen if it went up to $5.00? Is that market cap too big?

very nice and on spot
Cheers Vince always good
Very good technical set up!🦐🔝
VincePrince noobieYETpro
@noobieYETpro, You are welcome.