Cardano Update and Uptrend Confirmed AF 🔜™️ | CARDANO ($ADA)
💰 The long awaited Cardano update now has its dates confirmed by Cardano founder Charles Hoskinson. This includes a July 29th release date. The update is a mainnet update and hard fork named Shelly. Shelly is already in the works and some phases are complete, now it is just about a countdown to a public launch. Unsurprisingly given the broader crypto market and excitement over Shelly ADA has been seeing some nice price action as well. With that in mind, we are simply watching levels at this point instead of doing a long setup due to the fact that there are multiple attractive support levels to look for reactions at.
First up we have R1 and R2 resistance. R1 is a bearish S/R flip from the previous highs, while the R2 bearish orderblock comes from a dead cat bounce from the COVID crash.
Below we have S1 and S2. While S1 is a relatively wide range, we have drawn it this way as it includes multiple key levels and we expect price consolidation after the recent impressive run we have seen so far. The S2 bullish orderblock meanwhile should act as support for this range as it continues to play out before a move higher.
Ultimately what we are looking to have happen is price action similar to the ABC we have drawn on the chart previously where a range is created after an impulsive move up. This also forms a massive price inefficiency as shown on the chat in which we currently have below us now. We have had our impulse, now we wait for the range to be defined so we can get ready for a long setup.
Resource: decrypt.co/30405/cha...for-cardanos-shelley + cryptobriefing.com/c...e-date-is-confirmed/
✨ Drop a comment asking for an update, we do NEW setups every day! ✨
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First up we have R1 and R2 resistance. R1 is a bearish S/R flip from the previous highs, while the R2 bearish orderblock comes from a dead cat bounce from the COVID crash.
Below we have S1 and S2. While S1 is a relatively wide range, we have drawn it this way as it includes multiple key levels and we expect price consolidation after the recent impressive run we have seen so far. The S2 bullish orderblock meanwhile should act as support for this range as it continues to play out before a move higher.
Ultimately what we are looking to have happen is price action similar to the ABC we have drawn on the chart previously where a range is created after an impulsive move up. This also forms a massive price inefficiency as shown on the chat in which we currently have below us now. We have had our impulse, now we wait for the range to be defined so we can get ready for a long setup.
Resource: decrypt.co/30405/cha...for-cardanos-shelley + cryptobriefing.com/c...e-date-is-confirmed/
✨ Drop a comment asking for an update, we do NEW setups every day! ✨
Like, Comment & Follow to help the community grow 🎉🎉
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