BINANCE:ADAUSDT is testing the limit support area, which is actively defended by buyers, within the framework of the uptrend. A buyer appears on the market.
Caradno is trading in a very wide channel, in general it indicates to us the actual potential. The price cannot break through the MA-200 yet, but most likely the next attempt may be successful. The coin is lagging behind the growth of the whole market and in general continues to accumulate energy. The price is testing 0.5687 amid the market correction. The area is quite important, behind which there is a huge pool of liquidity, but the bulls continue to actively restrain this area.
Resistance levels: 0.6788 Support levels: 0.5687, 0.4877
Regarding 0.5687, after the false breakdown on April 10, a liquidity grab is formed, buyers appear on the market. High probability of trend continuation and price strengthening to the local maximum
Consolidation continues. ADA does not react to local movements of BTC
Trade active
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Volatility is reduced and potential is accumulated Ada is waiting for BTC to rise, if the flagship breaks through resistances and continues to rise, cardano will increase bullish volume
@RLinda, I bought Cardano at the price of 0.40-0.50 with a medium-term target of 150-250% growth.
maher_saada
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@RLinda, if the team realizes their vision, which seems like they will, this will be the most useful crypto. their goal is to make governments their clients. the blockchain is designed to be the infrastructure on which governments can run everything. their focus is on african countries as they are the ones most in need of solid governments and transparency.
molbioinfo
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@RLinda, a bearish counter here Volume shrinking, potential H&S or descending triangle. At this point it could go either way, up or down? I agree that the bounce from support with the pin is a sign up, but I'm wary until price goes up a bit longer. The weekly shows the bearish divergence with RSI and MFI. But from what I have seen, bearish divs usually do more than 2 peaks, so there is room for a break up, higher high, third bearish div, and then perhaps down.
RLinda
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@molbioinfo, Yes, the price is in a place where it is hard to say for sure, because it is near the risk zone, the breakout of which will give a strong bearish impulse, but it is also in the zone of interest.
A big buyer is able to form a position in such a way that nothing will show up on the volume. But he is also able to draw the volume (for example, in the glass) so that to provoke the crowd in one direction or another.
At the moment, while the price is in the range of 0.6166 - 0.5687, we should consider two scenarios:
Strengthening on the basis of the set-up described in the idea. But consolidation above 0.6166 can confirm further growth. And the strongest confirmation will be the breakout and consolidation above 0.6684.
But a break of 0.5687 support, a retest from below and consolidation of the price below this level will send the coin to 0.4477.
@ParabolicP that would have meant ability to predict the future, and in the reply she considers both scenarios anyway. The key was the direction of the breakout, until that point both directions made sense for different reasons.
Cryptoslav15
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@molbioinfo, trading is a casino then :) the only sure thing is that the price will move to the right.
molbioinfo
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@Cryptoslav15 haha nearly, money goes always to the house :P. I wonder if japanese charts go to the left! But I like the perspective of RLinda, she's got an seasoned insight that I don't have.