Can Cardano's (ADA) Rally Reach $2? A Deep Dive
Cardano (ADA) has undeniably been one of the standout performers in November 2023, surging over 140% and reaching a multi-year high of $0.80. This impressive rally has sparked renewed optimism among investors, with many wondering if ADA can maintain its momentum and even reach the coveted $2 price point.
The Drivers Behind Cardano's Rally
Several factors have contributed to Cardano's recent price surge:
1. Network Upgrades and Developments: Cardano has consistently focused on technological advancements, with key developments like the Vasil hard fork enhancing its scalability and efficiency. These upgrades have positioned Cardano as a strong contender in the smart contract platform space.
2. Growing Ecosystem: The Cardano ecosystem has seen significant growth, with a growing number of decentralized applications (dApps) being built on the platform. This increased adoption has bolstered Cardano's utility and potential for future growth.
3. Positive Market Sentiment: The broader cryptocurrency market has experienced a resurgence in recent months, driven by factors such as declining inflation rates and potential regulatory clarity. This positive sentiment has spilled over into altcoins like Cardano.
4. Institutional Interest: Institutional investors have shown increasing interest in Cardano, recognizing its potential as a long-term investment. This institutional adoption can provide stable support to ADA's price.
The Road to $2: Challenges and Opportunities
While Cardano's rally has been impressive, several factors could impact its ability to reach the $2 price target:
1. Market Volatility: The cryptocurrency market is inherently volatile, and sudden price swings can occur due to various factors, including macroeconomic events, regulatory changes, and market sentiment shifts.
2. Technical Resistance Levels: As Cardano's price rises, it may encounter significant technical resistance levels. Overcoming these levels will be crucial for sustaining the uptrend.
3. Competition from Other Blockchains: Cardano faces competition from other established and emerging blockchains like Ethereum, Solana, and Polygon. These competitors offer unique advantages and could attract investor interest away from Cardano.
4. Regulatory Uncertainty: The regulatory landscape for cryptocurrencies remains uncertain, and any negative regulatory developments could impact the price of ADA.
Technical Analysis: A Glimpse into the Future
Technical analysis provides valuable insights into potential price movements. Key technical indicators to watch for Cardano include:
• Moving Averages: The 50-day and 200-day moving averages can provide support or resistance levels. A bullish crossover, where the 50-day MA crosses above the 200-day MA, could signal a strong uptrend.
• Relative Strength Index (RSI): The RSI measures the speed and change of price movements. An RSI above 70 indicates overbought conditions, while an RSI below 30 suggests oversold conditions.
• MACD: The Moving Average Convergence Divergence (MACD) is a trend-following momentum indicator. A bullish crossover, where the MACD line crosses above the signal line, can signal a potential uptrend.
Conclusion
Cardano's recent rally has been fueled by strong fundamentals and positive market sentiment. While reaching the $2 price target is not impossible, it will require sustained momentum, overcoming technical hurdles, and navigating potential market challenges. Investors should conduct thorough research and consider consulting with financial advisors before making any investment decisions.
Cardanousd
Understanding the Cardano (ADA) Surge: Comprehensive Analysis
Cardano (ADA), the native cryptocurrency of the Cardano blockchain, has recently exhibited a notable uptrend, breaking above the crucial $0.8800 support level. The price has since rallied to trade above the $0.9500 mark, surpassing the 100-hourly Simple Moving Average (SMA).
Technical Analysis: A Bullish Outlook
A closer look at the hourly chart of the ADA/USD pair reveals a key bearish trend line forming resistance near the $1.0200 level. However, a decisive breakout above this trend line could trigger a significant upward move, potentially propelling the price towards the $1.0500 resistance zone.
Key Technical Indicators:
• Relative Strength Index (RSI): The RSI is currently hovering above the 50 level, indicating bullish momentum. A sustained increase in the RSI could signal further price appreciation.
• Moving Averages: The 100-hourly SMA has been acting as a strong support level, and a break above it has confirmed the bullish bias.
• Momentum Indicators: Momentum indicators like the Moving Average Convergence Divergence (MACD) and the Stochastic Oscillator are also showing bullish signals, suggesting that the upward trend may continue.
Fundamental Factors Driving ADA's Price Increase
While technical analysis provides insights into short-term price movements, it's essential to consider the underlying fundamental factors driving ADA's price increase:
• Network Upgrades: Cardano's ongoing network upgrades, such as the Vasil hard fork, have significantly improved the network's scalability and efficiency. These upgrades have attracted more developers and investors to the Cardano ecosystem.
• Growing DeFi Ecosystem: The Cardano blockchain is rapidly emerging as a hub for decentralized finance (DeFi) applications. The increasing number of DeFi projects and protocols built on Cardano can boost demand for ADA.
• Institutional Adoption: Institutional investors and corporations are increasingly recognizing the potential of blockchain technology and cryptocurrencies. As more institutions allocate capital to Cardano, it can further fuel price appreciation.
• Positive Market Sentiment: The overall positive sentiment in the cryptocurrency market, driven by factors such as increasing institutional adoption and regulatory clarity, can also contribute to ADA's price increase.
Potential Risks and Challenges
While the technical and fundamental outlook for ADA appears bullish, it's important to acknowledge potential risks and challenges:
• Market Volatility: The cryptocurrency market is highly volatile, and prices can fluctuate rapidly due to various factors, including macroeconomic events, regulatory changes, and market sentiment.
• Competition from Other Blockchains: Cardano faces competition from other blockchain platforms like Ethereum and Solana. These competing platforms may offer advantages in terms of scalability, transaction fees, and developer ecosystem.
• Regulatory Uncertainty: Regulatory uncertainty remains a significant risk for the cryptocurrency industry. Strict regulations or unfavorable policies could negatively impact the price of ADA.
Conclusion
Cardano's recent price surge and positive technical indicators suggest that the bullish trend may continue in the short term. However, it's crucial to approach investments in cryptocurrencies with caution and consider diversifying your portfolio. As with any investment, conducting thorough research and consulting with financial advisors can help you make informed decisions.
Cardano (ADA) Reclaims $1, Eyes Crucial Resistance Zone
Cardano (ADA), the popular layer-1 blockchain platform, has once again surged above the significant $1 price level. In the past 24 hours, the altcoin has witnessed a remarkable seven percent increase, fueling optimism among investors. As ADA approaches a crucial resistance zone, analysts closely monitor its price action to gauge its potential future trajectory.
A Closer Look at the Technical Analysis
A technical analysis of ADA's price chart reveals a bullish sentiment. The recent surge has pushed the altcoin above several key resistance levels, including the 200-day moving average. This positive price action indicates a potential shift in market sentiment, with investors becoming more optimistic about ADA's prospects.
However, ADA still faces a significant challenge in the form of a strong resistance zone between $1.10 and $1.15. This zone has historically proven to be a formidable obstacle for the altcoin. If ADA can successfully break through this resistance, it could pave the way for further upside potential.
On the other hand, a failure to overcome this resistance zone could lead to a potential price correction. In such a scenario, ADA might retest the $1 support level. Therefore, it is crucial to monitor the price action around this critical resistance zone in the coming hours.
Factors Driving ADA's Recent Surge
Several factors have contributed to ADA's recent price surge:
1. Network Upgrades: Cardano has been actively working on various network upgrades and improvements, including the Vasil hard fork. These upgrades have enhanced the network's scalability and performance, making it more attractive to developers and users.
2. Growing Developer Community: The Cardano ecosystem has witnessed a significant increase in developer activity. More and more projects are being built on the Cardano blockchain, which could drive demand for ADA.
3. Positive Market Sentiment: The broader cryptocurrency market has been experiencing a period of relative stability and growth. This positive market sentiment has benefited ADA and other altcoins.
4. Institutional Interest: Institutional investors are increasingly showing interest in Cardano. This growing institutional adoption could provide long-term support for ADA's price.
What's Next for ADA?
The short-term outlook for ADA is cautiously optimistic. If the altcoin can successfully break through the $1.10 to $1.15 resistance zone, it could potentially rally towards the next major resistance level at $1.25. However, a failure to overcome this resistance could lead to a price correction.
Long-term, ADA's success will depend on its ability to attract and retain developers, as well as its ability to deliver on its technological promises. If Cardano can continue to innovate and grow its ecosystem, it has the potential to become a major player in the cryptocurrency market.
Conclusion
Cardano's recent price surge and the potential for further upside have generated excitement among investors. However, it is essential to approach this development with caution and conduct thorough research before making any investment decisions.
As always, it is crucial to diversify your portfolio and manage risk effectively. By staying informed about the latest market trends and developments, investors can make informed decisions and maximize their returns.
Cardano's Resurgence: A $1 Reclaim and a Bullish OutlookCardano (ADA), the blockchain platform known for its scientific approach and focus on sustainability, has recently made significant strides.1 The cryptocurrency has not only reclaimed the crucial $1 price level but has also witnessed a surge in network growth, sparking optimism among investors and analysts alike.2
Reclaiming the $1 Mark
After a period of consolidation, ADA successfully broke through the psychologically significant $1 resistance level.3 This achievement marks a significant milestone for the cryptocurrency, which has been steadily gaining momentum in recent months.4 The price surge can be attributed to several factors, including increased network activity, positive market sentiment, and growing institutional interest.5
Network Growth and Adoption
One of the key drivers behind Cardano's recent price appreciation is the substantial growth in its network activity.6 The number of daily active addresses on the Cardano blockchain has surged, indicating increased user engagement and adoption.7 This uptick in user activity is a strong indicator of the network's health and potential for future growth.8
Furthermore, Cardano's Total Value Locked (TVL) has also experienced significant growth, reflecting the increasing popularity of decentralized applications (dApps) and other projects built on the platform. As more projects and users choose Cardano, the network's value proposition strengthens, attracting further investment and attention.9
Technical Analysis: A Bullish Outlook
From a technical perspective, Cardano's price action appears to be forming a bullish pattern. The recent breakout above the $1 resistance level has provided strong confirmation of the uptrend. Additionally, key technical indicators such as the Relative Strength Index (RSI) and Moving Averages (MAs) are signaling bullish momentum.
However, it is important to note that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly.10 While the technical indicators suggest a potential for further upside, conducting thorough research and considering risk management strategies is crucial before making any investment decisions.
Future Potential and Challenges
As Cardano continues to mature and evolve, it has the potential to become a leading player in the blockchain industry. The platform's focus on sustainability, scalability, and security positions it well to address the challenges faced by other blockchains.11
However, Cardano still faces several challenges, including competition from other established and emerging platforms.12 Additionally, the regulatory environment for cryptocurrencies remains uncertain, which could impact the adoption and growth of the industry.13
Conclusion
Cardano's recent price surge and increased network activity are positive signs for the future of the platform. The cryptocurrency's strong fundamentals, coupled with a growing community and a dedicated development team, position it well for long-term growth.14
While the short-term price movements may be subject to market volatility, the long-term outlook for Cardano remains bullish.15 As the network continues to mature and attract more users and developers, ADA has the potential to reach new heights and solidify its position as a leading blockchain platform.16
Is Cardano Heading Towards $6? Expert Analysis and Bullish SignsCardano (ADA), the blockchain platform known for its scientific approach to blockchain development, has recently shown significant bullish signs. The cryptocurrency has experienced a surge in price, breaking key resistance levels and attracting increased investor attention.
Cardano Price Rumbles On, Breaks $1 For The First Time Since 2022
One of the most notable developments is Cardano's recent price surge, which has pushed the token above the $1 mark for the first time since 2022. This significant milestone has ignited optimism among investors and analysts alike.
Key Factors Driving Cardano's Bullish Momentum
Several factors are contributing to Cardano's bullish momentum:
1. Network Upgrades and Developments:
o Vasil Hard Fork: The successful implementation of the Vasil hard fork brought significant performance and scalability improvements to the Cardano network. This upgrade enhanced the network's capacity to handle increased transaction volume and smart contract activity.
o Djed Stablecoin: The launch of Djed, a decentralized stablecoin, has added a new dimension to Cardano's ecosystem. Djed aims to provide stability and facilitate financial transactions within the Cardano network.
2. Growing Developer Activity:
o The number of developers building on the Cardano platform has been steadily increasing. This growing developer community is a strong indicator of the network's potential and future growth.
o The development of dApps (decentralized applications) on Cardano is gaining momentum, expanding the platform's utility and attracting new users.
3. Positive Market Sentiment:
o The broader cryptocurrency market has been experiencing a positive trend, with many cryptocurrencies showing significant price gains. This positive sentiment has spilled over to Cardano, driving its upward momentum.
o Increased institutional interest in the cryptocurrency market has also contributed to the positive sentiment surrounding Cardano.
Expert Forecast: $6 Price Target
In light of these positive developments, experts have issued bullish forecasts for Cardano's future price. Some analysts believe that Cardano could reach a price target of $6 in the coming months or years.
Potential Challenges and Risks
While the outlook for Cardano appears promising, it's important to acknowledge potential challenges and risks:
• Market Volatility: The cryptocurrency market is inherently volatile, and sudden price swings can occur.
• Regulatory Uncertainty: Changes in regulatory policies can impact the cryptocurrency market, including Cardano.
• Competition from Other Blockchains: Cardano faces competition from other blockchain platforms, such as Ethereum and Solana, which could impact its growth and adoption.
Conclusion
Cardano's recent price surge and positive developments suggest a bullish outlook for the cryptocurrency. However, it's crucial to approach investments with caution and conduct thorough research before making any decisions. As with any investment, there are risks involved, and past performance is not indicative of future results.
By staying informed about the latest developments in the Cardano ecosystem and the broader cryptocurrency market, investors can make informed decisions and potentially benefit from Cardano's future growth.
Cardano ADA- As always, everything is illustrated in the graphic.
- Review the trend.
- Note the red TP (Take Profit) and green BUY indicators.
- Pay attention to the Fibonacci level at 261.8%.
- Cardano achieved approximately a 15,000% increase from 2017 to 2020.
- While history may repeat itself, expect lower profits this time, with a potential maximum gain of around 5,000%.
- 0.20$ is a fire buy.
- I recommend setting a TP around $7.50.
Happy Tr4Ding!
Cardano (ADA) Rockets 1300% Gains at 10x Leverage!Trade Overview:
CARDANO (ADA) on the 4-hour timeframe showcased a phenomenal long trade setup using the Risological Green Lines and the Risological Swing Trader. The trade captured an impressive 1300% gain at 10x leverage, demonstrating the strength of the tools in identifying market momentum.
Key Levels:
TP1: $0.00000512 ✅
TP2: $0.00000537 ✅
TP3: $0.00000563 ✅
TP4: $0.00000579 ✅
Technical Analysis:
The trade began with a clear breakout above the Risological Green Lines , confirming strong bullish momentum. The entry point at $0.00000496 was precisely timed, with a tight stop-loss placed at $0.00000483, ensuring minimal downside risk. Each profit target was sequentially hit as the price displayed consistent strength, powered by solid market sentiment.
The combination of clear Risological trend alignment and disciplined risk management allowed traders to capitalize fully on the upward move. This trade is another testament to the accuracy and reliability of the Risological system in achieving consistent profits while mitigating risks effectively.
Analyzing Cardano's Resurgence Due To Whale ActivityCardano (ADA), the proof-of-stake blockchain platform, has been making significant strides in the cryptocurrency market, defying the broader market downturn and attracting the attention of large-scale investors. The recent surge in whale activity, characterized by transactions involving substantial amounts of ADA, has ignited optimism among the Cardano community.
A Beacon of Stability in a Turbulent Market
While many cryptocurrencies have struggled to maintain their value amidst market volatility, Cardano has emerged as a beacon of stability. This resilience can be attributed to several factors:
• Strong Fundamental Value Proposition: Cardano's focus on sustainability, scalability, and security has solidified its position as a leading blockchain platform. Its unique proof-of-stake consensus mechanism, Ouroboros, offers energy-efficient and environmentally friendly transaction processing.
• Active Development and Innovation: The Cardano team continues to actively develop and innovate on the platform. Recent advancements, such as the implementation of smart contract functionality through the Alonzo hard fork, have expanded Cardano's capabilities and attracted a growing developer community.
• Strong Community Support: A dedicated and passionate community of supporters has been instrumental in driving Cardano's growth. This community actively participates in the network's development, governance, and promotion.
Whale Activity: A Bullish Indicator
The recent surge in whale activity on the Cardano network is a significant bullish indicator. Large-scale investors, often referred to as whales, are typically sophisticated market participants who make informed investment decisions. Their increased interest in Cardano suggests a strong belief in the platform's long-term potential.
Whale activity can influence market sentiment and price trends in several ways:
• Accumulation: Whales may be accumulating ADA in anticipation of future price appreciation. This increased demand can drive the price higher.
• Market Manipulation: While less likely in a decentralized market like Cardano, large-scale transactions can potentially impact short-term price movements.
• Signaling Confidence: Whale activity can signal confidence in the project's future, encouraging other investors to follow suit.
The Road Ahead for Cardano
As Cardano continues to evolve and mature, its potential for future growth remains significant. The platform's focus on sustainability, scalability, and security positions it well to address the challenges facing the broader blockchain industry. Additionally, the growing interest from institutional investors and the active development of the Cardano ecosystem further bolster its prospects.
However, it's important to approach any investment with caution and conduct thorough research before making any decisions. The cryptocurrency market is highly volatile, and past performance is not indicative of future results.
Key Takeaways:
• Cardano's strong fundamentals, active development, and supportive community have contributed to its resilience in a turbulent market.
• The recent surge in whale activity is a positive indicator of investor confidence in Cardano's long-term potential.
• While the future of Cardano is promising, it's essential to approach investments with caution and consider the inherent risks associated with the cryptocurrency market.
By staying informed about Cardano's progress and market trends, investors can make informed decisions and potentially benefit from the platform's future growth.
Cardano (ADA) - Bull Flag TargetFrom a technical perspective, ADA price action has led to the formation of a bull flag pattern in the four-hour timeframe, as shown in the chart
A bull flag is a bullish indicator that forms after the price consolidates inside a down-sloping range following a sharp price rising upwards.
Bull flags typically resolve after the price breaks above the upper trendline and rise by as much as the previous uptrend's height. This puts the upper target for ADA price at $1.11 - levels last seen in April 2022.
ADA's daily relative strength index is also still in the neutral zone at 59. This suggests that the chances of a major pullback are relatively low.
🌟Key Levels:
🚩$0.546= Flag Pole
🟢$0.703= Line of Support
🔴Line of Resistance= $0.767
🎯Target= $1.11
Cardano (ADA) in Rising Wedge, Approaching Resistancehello guys.
Rising Wedge Pattern: Cardano is currently forming a rising wedge, a pattern that often suggests a potential bearish reversal after an uptrend.
Resistance Levels: Key resistance at 0.7021, where price may face selling pressure if approached.
Support Zones: Immediate support at the lower boundary of the wedge. A breakdown here could signal a pullback toward the lower range around 0.6039 or deeper, to the 0.5193 support level.
Potential Scenarios: If ADA breaks above resistance, it could attempt a further rally toward 0.7800. A rejection, however, may initiate a downside move within or below the wedge pattern.
Next Steps: Monitor the price action at key resistance and support levels for breakout or breakdown signals, with a focus on volume for confirmation.
Cardano: In Wave [v]From the low of the orange wave on November 4 to the peak of the subsequent orange wave last Sunday, ADA surged by more than 100%. The brief pullback in the orange wave was caught by our now grayed-out Target Zone. Currently, the orange wave should be underway, potentially pushing the price well beyond the $0.65 resistance level. However, there remains a 33% chance for a bearish short-term alternative scenario. In this case, an imminent sell-off into our green Target Zone between $0.44 and $0.35 would occur. This would imply that ADA completed its orange five-wave upward structure at the $0.65 resistance and has already entered the subsequent corrective green wave alt.2.
ADA bbuy💹 ADA/USDT Price Action Analysis 🔍
🔻 Sell Signal:
Entry: $0.3578
Stop Loss: $0.3710
Target 1: $0.3486
Target 2: $0.3442
📉 Price approaching resistance zone (0.367 - 0.371). Watch for potential reversal patterns for a sell opportunity. 🚨
🔺 Buy Signal:
Entry: $0.3442
Stop Loss: $0.3373
Target 1: $0.3486
Target 2: $0.3578
📈 Strong support near $0.341. Looking for bullish reversal to confirm long entry. 👀
ADA - Breakout or FAKEOUT?In many ways, ADA reminds of XRP.
And that's not a compliment... Big promises, cult following, failure to reclaim previous highs etc. Either way - ADA can and will still be traded, and profits can be made.
However, another worrisome thought is that (like XRP) many bagholders may be waiting to sell around every corner. This causes extremely tough resistance zones, and is often the reason why the price just cannot seem to get "back up there".
The clear higher lows after a bottom is a bullish sign - but is THIS the breakout? I don't know. This current resistance zone will tell. Either we smash through it and close daily candles ABOVE, or it wicks above and then drops hard to the lower side of .30's.
_________________________
BINANCE:ADAUSDT
ADA long setup / 1:1 SettingBINANCE:ADAUSDT
COINBASE:ADAUSD
Hello Traders
💥Long position on CARDANO
SL1 ---> Low-risk status: 3x-4x Leverage
SL2 ---> Mid-risk status: 5x-8x Leverage
👾The setup is active but expect the uncertain phase as well.
➡️Entry Area:
Yellow zone
⚡️TP:
0.3625
0.3665
0.3715
0.3760
🔴SL:
0.3370
🧐The Alternate scenario:
If the price stabilizes below the trigger zone, the setup will be cancelled.
ADA will impress you soon
Read detailed explanation step by step for Cardano
Possible Targets and explanation idea
➡️Weekly fib relevant. Now trade in -0.27 zone (accumulation stage on weekly) but didn't touch 0.27 level (0.11 cents) yet
➡️Most negative scenario for ADA drop to 0.11 cents and forming huge divergency on weekly by ADZ indicator (accumulation distribution)
➡️Main signal to Sell was in Sep 2021. So we are almost 2 years in downtrend
➡️Signal to close Short position appear Dec 2022 and We got new signal to Buy based on Trade On indicator
➡️This week got a recommendation close long position so we have an all chances drop to 0.11 cents.
➡️Trade since May 2022 under fundamental price (real value) last yellow line. We always walk from line to line.
➡️Even if we touch 0.11 cents the middle term targets will be Take Profit line (first blue line) Now its a 1.36$ and 0.23 level by FIB
Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch!
✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes.
---
• Look at my ideas about interesting altcoins in the related section down below ↓
• For more ideas please hit "Like" and "Follow"!
ADA (Crypto CARDANO-USD) BUY TF H4 TP = 0.4053On the H4 chart the trend started on Aug. 05 (linear regression channel).
There is a high probability of profit taking. Possible take profit level is 0.4053
Using a trailing stop is also a good idea!
Please leave your feedback, your opinion. I am very interested in it. Thank you!
Good luck!
Regards, WeBelievelnTrading
ADA - Cardano - The Charles ArmyADA - Cardano - The Charles Army
Been awhile. I've pivoted to more rewarding chains. Ie. SOL and its smaller shitcoin prodigies. This one will go properly eventually; but I think your looking at about a 5x from here. Things like RAY, ORCA, JOE etc will probably do better.
Might be wrong and the ADA market makers are instructed to pump this puppy like they used to. ie 100x from bottom.
If Charles pivots this ship to be more developer friendly and .. cooler then maybe it goes bananas.
This is for my old Cardano homies. keep your head up.
Cardano Alert at $0.4477: Analysis Deciphers ADA Next Move!
Cardano has to move back to above $0.4477, otherwise it will dip to $0.3963 and, possibly, lower.
A bullish break-out of $0.4477 will push price back to $0.5434.
Above $0.5434 is a bullish daily zone and we will see a move towards $0.6562, where price action will be very important.
A sustained price action above $0.4477 will increase odds of the dip to $0.335.
Cardano 30-50% Growth Incoming ?! #CardanoStrong demand confirming on our $40s zone driving multiple confirmation with a environment breakout after a strong correction phase is no longer bearish.
Looks feasible as of now for a relief rally anywhere between 30-50% in the encircled points.
Let's see !
Cardano, mid term tradingHappy Sunday everyone,
this analysis is a medium term analysis, which closes the position in the next two or three months.
In this analysis, I used a daily time frame, because if I used 4 hours, it wouldn't fit on 1 chart.
Cardano has touched channel up support that was formed since early November last year, and this pattern is still very strong and persists to this day.
We can take bullish steps now around the 0.5878 level, or wait to touch support again at the 0.5692 level, by pursuing the 52% profit projection at the up resistance channel at the 0.8710 level as profit target.
However, this time I recommend using a small margin, because it is not only the up channel that is formed, but also the head and shoulders pattern.
and if the up channel pattern breaks down, then what will happen is that bears will pursue the target of 0.3411 with a decline of -40%
My money management is simple in this trading,
I use 1% of equity without a stop loss and if the price falls to 0.3411, I make a buyback (martingale) with a volume of 2% or 3% of equity.
Hopefully this analysis is useful,
Don't forget to support and share this analysis.
Happy trading
ADA - Daily more fallFollowing its robust bullish rally, ADA has been ascending within a channel.
However, the recent loss of crucial support zone could signal a potential decline, taking it to at least the lower boundary of the channel.
Traders may want to keep an eye on this level for possible support and a rebound or a further break indicating continued downside.