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harribatu
Feb 10, 2021 1:29 AM

Cardano - summer surveys. 

Cardano / US DollarBinance

Description

The truth is that Cardano has been on a spectacular rise since the beginning of the year. Right now and according to the idea we are in the middle of a fibonacci level of 2.618 since the last big drop that occurred in May 2018.

Since the RSI is quite overbought there is a high possibility that the pair will correct in the next few days. Let's hope it respects the lower ideal consolidation zone, above $ 0.58.

On the other hand and in a broader weekly view we also see the RSI (91) overbought. Signal that would make us confirm that possibility of a downward correction.

If some strength is left to this relatively long movement, at least it is to touch $ 0.93 and hopefully also to consolidate in that area.

What are your thoughts? Thanks for your support!
Comments
netfast
what I don't get (maybe naively) is why does the MFI indicate oversold??
krazytheboris
should i buy now? or wait for possible dip? and if not so buy at 9 ?
yorriz
well, i hope the fundamentals are good for ADA so your analysis might come true :)
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