How my indicator thinks about Cardano: (Part 1)
In the figure, the lines on the right represent the levels that attract the price and the size of these lines represents the strength of attraction. The color of the lines refers to different time frames. The 30-minute time frame is shown in sky blue, 2H in blue, 4H in black, 12H in purple, and 1D in red. Both color and size are effective in final strength. Small time frames show fluctuations and larger time frames show the final direction of movement. The lines on the right also represent resistance and support levels, whose size represents the strength of that level, and the color is the same as the previous explanation.
With these explanations, a strong absorber at 0.249, a relatively strong absorber at 0.27, and a very strong absorber at 0.305 pull the price up, and of course, there are weak resistances on the way, and there is a strong resistance at the 0.258 level. In general, due to the much greater strength of the absorbing levels, a good rise is expected from Cardano. But because it seems strange that such an increase would occur in the case of a fall in Bitcoin, there is also a possibility that Bitcoin will also experience a good rise or at least not suffer a particular fall.
The analysis has been done in a 4H time frame, and of course, the indicator will update in each candle according to the market conditions.
With these explanations, a strong absorber at 0.249, a relatively strong absorber at 0.27, and a very strong absorber at 0.305 pull the price up, and of course, there are weak resistances on the way, and there is a strong resistance at the 0.258 level. In general, due to the much greater strength of the absorbing levels, a good rise is expected from Cardano. But because it seems strange that such an increase would occur in the case of a fall in Bitcoin, there is also a possibility that Bitcoin will also experience a good rise or at least not suffer a particular fall.
The analysis has been done in a 4H time frame, and of course, the indicator will update in each candle according to the market conditions.
Comment:
My indicator thinks that Cardano will drop to around 0.2455 USDT in the coming hours.
Comment:
Personal Indicator Comment: Cardano has hit a strong barrier at 25,800. A strong absorber of 2520 and a very strong absorber of 24900 prevent the price from rising further. And the strong support level is currently 24,900. Can the price break through the 25800 barrier and move towards the next barrier of 26440? Currently, the indicator does not show specific absorbing levels to help the price pass at this moment.