Quick ADA update:
ADA is in a Descending Channel. You can see the various support and resistance levels that ADA has had as resistance and support after it broke out from its previous Ascending Wedge.
ADA has found support from its 2nd upwards support line.
ADA is still in the Bearish Zone for this 4hr timeframe. Note we have had a Cloud Twist (Kumo) into a red...
The triangle on Cardano was still broken upwards, but as expected, there was no growth, already from $ 1.89 there was a downward reversal. The rate has slipped to $ 1.356 so far, the bullish hammer has not allowed to go further.
If everything goes according to the road map, the main network of Cardano with the support of smart contacts will be launched by the end...
We broke out of the ascending triangle (bearish) however, you can see we have also now broken out of this falling wedge pattern (bullish) and now creeping back up towards the ascending triangle (Busted Ascending triangle Pattern Bulkowski). There will be strong resistance around the 1.60 - 1.65 $ region, but strong buying volume will lead us back into the triangle...
Thanks to @VincePrince , I've noticed error in my 'diamond' idea, and this decisive triangle rules it incorrect. Here we would be outside that "diamond-top", but we're now holding an Inherently bullish channel formation well. If you don't follow Vince already, I highly recommend his ideas!
With BTC dominance falling like a brick, alts are losing steam by the day. Lots of alts are displaying similar patterns, one of the more common ones is a bearish channel.
ADA has slowly but surely trading down in this bearish channel, showing no signs of a bullish reversal anytime soon. When trading alts, keep an eye out for BTC, since alts tend to follow BTC's...
Just as we are following up on the 3daily activities on the chart, the previous candle was Bullish engulfing candle and we should expect some retracement from the current candle, which just do as expected and currently trading within major AREA of Interest.
From this setup, our zone for long remain 35k-33k.
Target remain same as 48k-51k
NOTE : This setup become...
Everytime I checked Cardano, it always move in a pattern, especially on the 4H timeframe.
Then based on what I saw right now, we might see another decline on the EMA 21 before we continue to the upside and break the Falling Wedge Pattern.
Disclaimer : This is not financial advise.