If you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis!
Quick glance: Cardano gave a decisive multi-week breakout after breaching the $1.47 mark. From the looks of it, ADA still seems to have some steam left. Although a large part of the momentum would depend on Bitcoin and Ether’s momentum as well. In our previous analysis on ADA, we had predicted that ADA was poised for a huge move as it was continuously hovering around the key resistance level. The previous analysis had even clearly marked the target levels, and both the targets were filled today.
Market in the last 24hrs The last 24 hours were a second consecutive day of double-digit gains for ADA as it shot up more than 11%. The volumes are still high suggesting the momentum is still pretty good.
Today’s Trend analysis ADA is currently hovering around another key resistance level, where it has rebounded multiple times since May. This level at $1.85 is a key resistance level and we could expect some pullback.
However, if ADA decisively breaches this level, the next target would be at $2.30, which is another 25% move from current levels. By ‘decisively breaching,’ we are referring to large volumes.
Price volatility remained extremely high at approximately 12.57%, with the day's range between $1.67 — $1.88.
Price at the time of publishing: $1.8705 ADA’s market cap: $60.816 Billion
Out of 11 Oscillator indicators, 8 are neutral, none are bearish and 3 are bullish.
Out of 15 Moving average indicators, 1 is 'NEUTRAL', none are bearish and 14 are bullish.
Indicator summary is giving a ‘STRONG BUY’ signal on ADAUSD .
Volumes have remained high over the past 24 hours. ----------------------------------------------------------------------------------------
The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 24-hour candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
Hey guys, if you're staking Cardano please take a look at Valhalla Pool . We are currently looking for new delegators. If you need any help, please reach us out on Twitter or Telegram (Valhalla Pool).
As for the chart - looks great, thanks for sharing.
AtlasTrades
⋅
I agree with your opinion
TRADiNG_hub
⋅
nice Explain 😍
ZaiB9
⋅
Great Job Amazing Setup
Thanks For Sharing Your Analysis With us :)
@Vafon, so far, I don't have a target if we cross ATH. we can cross that bridge when we come to it. For now, I feel there are multiple strong resistance levels between current prices and ATH