Cardano, Still Holding The Structure, Contemplated Potentials!

Hello Traders Investors And Community,

Welcome to this analysis where we are looking at the Cardano 4-hour timeframe perspective. The cryptocurrency markets divergence is increasing, this comes to the surface especially in such phases where the differences in the spread are especially remarkable, in this case, there were coins which recently showed high selling pressure to the downside almost with a heavy volatile candle on the daily perspective while there are others not even nearly showing this selling pressure with some moderate moves to the downside and not more like Cardano in this case which is still holding its established range, these differences are very very important to note and to consider when approaching the market in the right manner as not everything can show the same results, therefore, I detected the important levels and likely outcomes we should consider with Cardano here.

Structural Development:
Looking at my chart you can watch there this established broadening wedge below the neckline of the head and shoulder formation which I already mentioned previously and where this wedge can be a confirmation of the major formation, now besides that Cardano has this established wave-count within the wedge and also this 200-EMA support marked in black lying there where a bounce and completion of the wave-count is good to happen within a high likelihood spectrum. Besides that you can also see this ascending-trend-line where Cardano has added support and where a movement to the upside is possible like it is marked in my chart, taking all these factors into consideration Cardano has a good potential to move higher from here when these levels hold and Cardano does not increase the selling pressure which besides that would be an unrealistic mechanism.

Considerable Outcomes:
The upcoming times Cardano needs to show how it will complete the wave-count within its broadening wedge and how it will move from there, when Cardano then shows the up moves severely confirming the ascending-support-line as it is marked in my chart this can lead to the final breakout and confirmation of this bigger inverse head and shoulder formation. Taking this case into consideration it is from high importance that Cardano really holds these levels and bounces from there because when it falls below and closes into the bullish-invalidation-zone marked in my chart in red this will increase the selling pressure and invalidate the bullish scenario, however, when Cardano shows up as expected and moves on to form the proper setup marked in my chart above the neckline this will activate the projected-target-zone higher in the structure.

In this manner, thank you for watching, good day my friends, and support for more market insight.
"Prospect is the ingredient of good fortune."

Information provided is only educational and should not be used to take action in the market.