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$ADAUSD - Double Top Pattern Forming

Cardano / US Dollar (calculated by TradingView) (BINANCE:ADAUSD)

BINANCE:ADAUSD Cardano / US Dollar (calculated by TradingView)

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trendanalysis chartpattern fundamental adausd cardano cryptocurrency

We see that on a 4h timeframe, ADA is about to form double top pattern after which we'll be looking at support levels $0.20 - $0.24 to buy again.

If my other 2 ideas play out as I think they most likely will:

Unsustainable 500 Billion Growth in Only 2 Weeks -

Sunday BTCUSD Correction -

We're about to see some nice correction which was waited for before ETH and Alts really take off.

Not a trading advice. Do your own research.

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Comments

wow good call! when will be a good spot to accumulate?

lyang415

@lyang415, If the downward pressure continues, I'd start buying at 0.25 levels. If it goes below then I would again buy until 0.2.

If it goes below, it would invalidate the short term trade but I think ADAUSD still going to be profitable in the mid-long term.

Could just as easily form a cup and handle continuation. Only time will tell, though markets and sentiment are very bullish. Especially with Cardano..

Universal_Trends

@Universal_Trends, of course. The chart is based on my other 2 ideas as stated above. BTC and Total Market Cap could use a decent correction and accumulation before really taking off. As you said, time will tell.

RPubens

@RPubens, btc is slightly lower. You still see 20-24 in ada? thanks.

HHSPN

@HHSPN, It can jump of 0.25. There's some support there.

0.20 - 0.24 would be perfect to accumulate a bit more.

RPubens

@RPubens, Thanks.