Cardano, Forms Decisive Triangle, Possible Perspectives Ahead!

Hello Traders Investors And Community,

Welcome to this analysis about Cardano in which we are looking at the 4-hour timeframe perspective, the recent events, the established formational structure, and what we can expect the upcoming times therefore what possibilities are likely to establish within the schedule. As Cardano showed up with strong upside-movements where it almost exaggerated bullishly to the upside and also completed important formations underlining these movements it has now stopped with this trend and is about to develop a very interesting formation that is worthwhile to look at in the structure, therefore I detected all the important levels and likely outcomes we should consider with Cardano in the established range and upcoming movements.

As when looking at my chart now we can watch there how Cardano is building up this massive head-and-shoulder-formation marked in my chart with the blue trendline. Recently Cardano bounced from the 140-EMA in green and the 120-EMA in red to the upside in which it confirmed to the wave C to establish within this coherent wave-count, furthermore Cardano already completed the left shoulder and the head in the schedule with the right should remaining now. Taking all these factors into consideration the bearish scenario has a greater possibility as it is often the case with such types of head-and-shoulder-formations, this is why we should expect this scenario to move on with a possibility of 65% nevertheless it is necessary to wait for the final validations before moving into the right direction, it will be an interesting development.

In this manner, thank you for watching the analysis, have a good day, great contentment for everybody supporting, all the best!
"Trading effectively is about assessing possibilities, not certainties."

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