Inverted Head and Shoulders Forming on ADA/USDT?

Long

Cardano / TetherUS PERPETUAL CONTRACT (BINANCE:ADAUSDT.P)

BINANCE:ADAUSDT.P Cardano / TetherUS PERPETUAL CONTRACT

Trend Analysis

trendanalysis

I think ADA/USDT might be breaking out here.

Reasoning:

Strong divergence into key support level
Previously, divergence has been a strong signal of a large change in trend.
Big push up with volume
A retest of the key support level is likely and would form a nice looking inverted H&S out of the wedge

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.