Cardano, Triangle-Breakout Emerged, Important Zones!

Hello,

Welcome to this analysis about Cardano, we are looking at the 6-hour timeframe perspectives. As I detected recently Cardano has formed some interesting structures and when looking at my chart now we can watch there how Cardano established this ascending-triangle-formation marked with the boundaries in blue, this triangle formed above the descending-trend-lines in dashed grey. Within this triangle-formation Cardano has the coherent wave-counts and the waves A to C already completed in the triangle, this wave-count in the triangle completes the major wave C in the wave-count to the upside and as Cardano already recently showed up with the breakout above the upper-boundary this is the likely set up for the continuation and development of the major wave C to the upside which will run directly into this remaining point-of-control resistance marked with the red line where also the targets of the triangle stay. When these targets are reached it has to be elevated if Cardano manages to continue further bullishly or firstly reverses which is not unlikely as this is a strong resistance level. It will be an important and interesting development.

In this manner, thank you for watching my analysis about CARDANO and the triangle-structure developed with the recent breakout that emerged that is a likely origin for the pointing of its target-zone, will be great when you support it with a like and follow or comment, great contentment for everybody supporting, all the best!

Information provided is only educational and should not be used to take action in the markets.