Cardano is forming an ascending wedge pattern, a bearish formation that the majority of the time ends in a fall below the support line. For the next few days, we need to consider that the probable outcome.
How do we trade this? 🤔
Consider waiting for one more attempt to break resistance at the top of the wedge around the $0.68 area. A rejection at that level...
Cardano is racing toward the Resistance Zone after a successful break to the upside from last week's bull flag, as predicted in our last analysis. We're getting closer to resistance and the big question is, do we short it?
How do we trade this? 🤔
If you're still in a long from bull flag breakout, good! Don't exit yet as we have not seen a reversal signal. ADA...
ADA is currently in a fanning bull channel, meaning the support and resistance lines "fan out" or widen as the trend continues. The final bull push happened at the head of the head and shoulders pattern, signaling the end of the trend. The right shoulder is currently forming and once the price falls to the channel support, could mean Cardano falls to at least...
Past Performance of #Cardano
ADA is down to 9th on the market capitalization leaderboard and down 34 percent from April 2022 peaks. It is also flat-lining in the past 24 hours but down 11 percent versus the USDT week-to-date. Currently, ADA bears may see the coin retest March 2022 lows of around $0.75.
Cardano Technical Analysis
#ADA is free-falling at spot...
Let's look at the Cardano coin (ADAUSDT) since it bounced and continues to down in the 4h timeframe, we can clearly see that the possible pattern that will form is head and shoulders. Any other opinion?
Risk disclaimer! just an idea, not an invitation to enter a position
Hi friends. ADA want go down to 0.234, 0.210 in near future (2-7 days). I mark all interesting market process on the chart window. Levels thanks to X-Lines script. So why i think we will go so deep. It's because for my surprise exchange dont want to sell ADA that purchased at 0.342 by more expansive price and they sold by 0.355 - 0.360. Ofcourse it mean tendention...
On D1, the price moves to the 38.2% Fibonacci level on a logarithmic scale. RSI is near the overbought level.
On H4, a movement has formed between the price and the RSI. Moreover, the RSI is at the overbought level.
We recommend selling ADAUSDT when the price will be broken the downward trend line on H4.
