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Crypto_Mayhem

#Cardano ADA USD broadening descending wedge nearing support

Crypto_Mayhem Updated   
BINANCEUS:ADAUSD   None
Trend Analysis Chart Patterns ADA cardano Broadening Wedge
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trendanalysis chartpattern ada cardano broadeningwedge
Just watching this pattern to see if it plays out. If support holds, a nice 50% first target to the upside looks likely, possibly more if resistance breaks at the $0.74 level.

Comment:
Eyeing the resistance bands noted on the chart as targets for the Vasil hard fork event coming the end of June. $1.00 will also present significant resistance and a potential reversal point if momentum runs out just above the upper boundary of the descending wedge.

As usual, this all depends on bitcoin's price action. If BTC continues trading sideways, these targets are likely to remain valid.. if BTC price tanks, I'd expect a failure of this pattern as well.
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