CryptoCheck-

ADAUSDT $36c Likely on PhoenixAscending

Long
BINANCE:ADAUSDT   Cardano / TetherUS
Hi Traders, Investors and Speculators ๐Ÿ“ˆ๐Ÿ“‰

Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. ๐Ÿ‘ฉ๐Ÿซ

Here's a short term overview on what we can expect for the price of Cardano for the immediate term. Technical indicator Phoenix Ascending together with Bollinger Bands point towards a potential $0.36c, as we see the RSI and EMA moving up with bullish buying momentum in the short term. IF the green EMA can cross over the 50 line, we can expect movement towards the basis of the bollinger bands , even if it is just a wick. The basis is the 20d moving average currently at $0.36.

However, currently with all the bankruptcy happening in the crypto environment, the markets do not look favorable for a new bull cycle, so I expect a resistance zone here. The next immanent support zone is around 0.22c, where there is a high demand zone and this is where I expect a bottom for ADAUSDT to be found.


Curious about what Decembers hold for Bitcoin historically? Check out this idea:


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