Hello traders and community, today we will tell ourselves shortly about situation of ADA/USDT
Trend analysis
- As you can see from the ADA/USDT daily chart, we are currently forming bullish breakout (Ellipse on the chart) and bullish W pattern (white line), therefore we can expect possible bullish scenario after a few days later to price level $1.30. Price of Cardano is still struggling with resistance level at the moment (approximately $1.16 price level), but support zone still remain quite strong for allowing ADA to drop lower + global trend of ADA remains bullish enough. As a trader, I recommend to put buy position up to $1.3 price level, only if we see new stable support after breakout will be finished.
Chart pattern
- Bullish W pattern (functioning)
- Bullish Breakout (functioning)
Technical indicators
- RSI: market is still in boarders and not fully overbought (Bull signal)
- MACD: market is still bearish cause of MA lines are moving away from each other and overall trend is going down (Bearish signal)
- BB: Volatility of the market started decreasing after range movement accomplished (Bearish signal)
- MA (10,20): MA10 is above the level of MA20 (Bull signal)
= Neutral movement prevails
Dear friends, please push the like button, write comments below, follow me for more technical analysis and share this post with other traders - that would be the best support, Thank you for your attention!
Tell us about your opinion for making better decisions :)
P.S.: Information provided is only educational and should not be used to take action in the market.
Trend analysis
- As you can see from the ADA/USDT daily chart, we are currently forming bullish breakout (Ellipse on the chart) and bullish W pattern (white line), therefore we can expect possible bullish scenario after a few days later to price level $1.30. Price of Cardano is still struggling with resistance level at the moment (approximately $1.16 price level), but support zone still remain quite strong for allowing ADA to drop lower + global trend of ADA remains bullish enough. As a trader, I recommend to put buy position up to $1.3 price level, only if we see new stable support after breakout will be finished.
Chart pattern
- Bullish W pattern (functioning)
- Bullish Breakout (functioning)
Technical indicators
- RSI: market is still in boarders and not fully overbought (Bull signal)
- MACD: market is still bearish cause of MA lines are moving away from each other and overall trend is going down (Bearish signal)
- BB: Volatility of the market started decreasing after range movement accomplished (Bearish signal)
- MA (10,20): MA10 is above the level of MA20 (Bull signal)
= Neutral movement prevails
Dear friends, please push the like button, write comments below, follow me for more technical analysis and share this post with other traders - that would be the best support, Thank you for your attention!
Tell us about your opinion for making better decisions :)
P.S.: Information provided is only educational and should not be used to take action in the market.