Hi guys! ๐๐ป
๐ While Cardano is working on itโs complete transition to DeFi, ADA/USD made a significant breakout. Yesterday cardano was trapped between two Moving Averages, MA100 and MA200, today itโs traded at $0.10800, above MA100.
๐ ADA/USD is still in a correction phase and deeper downtrends may continue, especially when Bitcoin dominance rises higher. However, before that occurs Iโm expecting an uptrend towards $0.12259 - $0.12478, where it will meet important resistances and Fibonacci 0.618 level of the last drop.
๐ There is a strong resistance at $0.10830, above which there is another area of resistance at $0.11307 and a monthly high - $0.11383. If Cardano closes above the 0.10830 I donโt think the monthly high will be able to stop it from another jump.
๐ The MACD indicator on both daily and 4-hour chart reflects bullishness of ADA/USD, Moving Averages on both timeframes show a great support of the uptrend, however one should also consider levels of supports and resistances and do not trade with a blind trust to indicators but use them as an auxiliary confirmation tool.
โ๐ป Good luck with your trades! โ๐ป
If you like the idea hit the ๐๐ป button, follow me for more ideas.
๐ While Cardano is working on itโs complete transition to DeFi, ADA/USD made a significant breakout. Yesterday cardano was trapped between two Moving Averages, MA100 and MA200, today itโs traded at $0.10800, above MA100.
๐ ADA/USD is still in a correction phase and deeper downtrends may continue, especially when Bitcoin dominance rises higher. However, before that occurs Iโm expecting an uptrend towards $0.12259 - $0.12478, where it will meet important resistances and Fibonacci 0.618 level of the last drop.
๐ There is a strong resistance at $0.10830, above which there is another area of resistance at $0.11307 and a monthly high - $0.11383. If Cardano closes above the 0.10830 I donโt think the monthly high will be able to stop it from another jump.
๐ The MACD indicator on both daily and 4-hour chart reflects bullishness of ADA/USD, Moving Averages on both timeframes show a great support of the uptrend, however one should also consider levels of supports and resistances and do not trade with a blind trust to indicators but use them as an auxiliary confirmation tool.
โ๐ป Good luck with your trades! โ๐ป
If you like the idea hit the ๐๐ป button, follow me for more ideas.
Trade closed: target reached:
Nothing is true, everything is permitted.
_________________________________
๐ค Get 20% fee cashback on CoinW with this link - www.coinw.com/frontweb/invitePublicity?r=azizelliott
_________________________________
๐ค Get 20% fee cashback on CoinW with this link - www.coinw.com/frontweb/invitePublicity?r=azizelliott