Cardano (ADA) is setting up perfectly for the Bull Market
Cardano
ADAUSD
is setting up perfectly for the Bull Market
ADA has been consolidating for the major part of 2023 and has been in a significant downtrend since early 2022.
We finally have the signs that the downtrend and consolidation is over and a bullish trend can begin.
Technical Analysis:
1) Breaking and re-testing the descending triangle
2) Bullish Volume is entering
3) TraderMagz Flagship Indicator - ATR God has triggered a buy after printing a Sell back in 26th Nov 2021 @$1.38. The last Buy was on the 25th May 2020 @ $0.07
4) Bitcoin halving is in April and we are seeing significant bullish momentum in Bitcoin and other Altcoins
5) TraderMagz - Divergence God has printed multiple divergences, Indicating strong probability that the weakness has ended
Fundemental Analysis:
1) Cardano has been building throughout the bear market - with significant milestone accomplishments being achieved
2) Total Value Locked (TVL) in both USD value and ADA tokens has soared over the past year and is accelerating
3) Multiple new protocols are launching every week and there are more on the horizon
4) Midnight Airdrop has been announced and is highly anticipated - more details to follow
5) Cardano is one of the most decentralized blockchains and the technology behind Cardano is rapidly improving. (Mithral, Hydra, on chain governance)
Price Targets/ Trade Setup:
Entry : between $0.25 and $0.4 - Current price is $0.375
Stop-loss : $0.19
Take profit 1: $1 phycological level
Take Profit 2: $3 - Previous all time high
Take profit 3: Between $4.5 and $5.5 - $5.22 is the 1.618 fib extension target
ADAUSD
is setting up perfectly for the Bull Market ADA has been consolidating for the major part of 2023 and has been in a significant downtrend since early 2022.
We finally have the signs that the downtrend and consolidation is over and a bullish trend can begin.
Technical Analysis:
1) Breaking and re-testing the descending triangle
2) Bullish Volume is entering
3) TraderMagz Flagship Indicator - ATR God has triggered a buy after printing a Sell back in 26th Nov 2021 @$1.38. The last Buy was on the 25th May 2020 @ $0.07
4) Bitcoin halving is in April and we are seeing significant bullish momentum in Bitcoin and other Altcoins
5) TraderMagz - Divergence God has printed multiple divergences, Indicating strong probability that the weakness has ended
Fundemental Analysis:
1) Cardano has been building throughout the bear market - with significant milestone accomplishments being achieved
2) Total Value Locked (TVL) in both USD value and ADA tokens has soared over the past year and is accelerating
3) Multiple new protocols are launching every week and there are more on the horizon
4) Midnight Airdrop has been announced and is highly anticipated - more details to follow
5) Cardano is one of the most decentralized blockchains and the technology behind Cardano is rapidly improving. (Mithral, Hydra, on chain governance)
Price Targets/ Trade Setup:
Entry : between $0.25 and $0.4 - Current price is $0.375
Stop-loss : $0.19
Take profit 1: $1 phycological level
Take Profit 2: $3 - Previous all time high
Take profit 3: Between $4.5 and $5.5 - $5.22 is the 1.618 fib extension target
Trade active:
Trade is 15% in profit
Well done to those who took the trade !
Well done to those who took the trade !
Trade active:
ADA has delivered an electrifying performance, soaring from $0.38 to a price of $0.57, marking an impressive upside of over 45%! This surge is a testament to ADA's robust technology and vibrant community, fuelling investor enthusiasm.
Keep an eye on Cardano DeFi and Cardano Native token as it continues to chart its exciting course in the crypto landscape!
Keep an eye on Cardano DeFi and Cardano Native token as it continues to chart its exciting course in the crypto landscape!
ADA is up 70% since our entry !