MonoCoinSignal

❌ Buying Cardano is still risky‼️

BINANCE:ADAUSDT   Cardano / TetherUS
After a 14% drop last week, Cardano did not show any activity this week and is still priced in the close range of last week.

With a clearer look at the four-hour timeframe, the trend is supported in the key range 0.4550 - 0.4343. The fall has broken the bottom of the uptrend channel , with recent growth seen only as a pullback.
The momentum identified by the MACD indicator continues to show the strength of traders.

After this support, the market has reacted quite seriously to the resistance of 0.545 - 0.5670.

The failure of the resistance in the downtrend is still a sign of the continuation of the trend, so as long as the resistance remains, the probability of support failure is still high.

The failure of the designated support indicates an increase in sales volumes, in which case a lower risk warning can be received. In such an event, a further decline to 0.3000 is expected.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.