Cardano is ready to go lower due to the fact that price is trading in ascending channel and reached downside of it, price can break it and go down to support zone.
ADA/USD CARDANO Long at confluence of AVWAP and Acceptance Zone MID / Horizontal support.
Entry 2: Long at confluence of AVWAP and Acceptance Zone Low / Horizontal support.
Hi Traders,
So we're currently seeing a price compression that started roughly 3 days ago. Accumulation clearly pricking up over the same period and the RSI within the oversold area. Things are looking bullish! Let's hope enough smart money comes into play for a breakout to the upside and toward the top red zone.
If we fail to gain momentum to the upside halted...
Hi Everyone! Hope everyone has been doing fine while I've been away. The purpose of this video is to explain what other things need to occur in order for us to see CONTINUED expansion of the B-Bands and the price action going "UP" with that expansion.
Gotta run...
Stay Awesome!
David
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We have a clear support line and a clear key level of 1,4640. Price made a trap and continue to squeeze the level. Everything looks like we will make a breakout. If it happens, I'll open a position after retest.
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Cardano is ready to go higher due to the fact that price is trading in range now and probably can break it soon, price can make new uptrend after that and go up to resistance zone.
ADA has broke out of the downtrend and broke above the resistance which has been followed by a correction to retest previous resistance as new support, we have now formed a double bottom and closed above the previous high on the 4hr timeframe im expecting the continuation to the upside to follow
SUMMARY: Short, balance of probability is that it will break down.
-- Technical --
Target is $1.18 for a downwards breaks of the rising wedge - bear signal.
Stoch RSI is overbought - bearish signal
RSI probably will continue down, after previous days of appreciation.
MACD shows momentum to the downside.
If it was to break up, say with a BTC surge, then...
A strong upward move is expected on the Cardano chart. The reflection from the bottom trend line of the triangle really indicates the tendency for the price movement upwards.
On the other hand, we are just below the strong price level, where we meet weekly Pivot point and daily Pivot point. This is not common and we definitely need to be careful.
However, we will...
Lots of confluence around that .618 fib level for ADA. Lets see if it will make it down there while Bitcoin continues to range and is looking like its losing its battle to hold some key levels at 35k.
I'd be willing to open a nice long around the Odin Zone for mid-term holding. With targets around ATH at least.
Happy trading.
Here on the four hour time frame we have a strong bullish heiken ashi candle meaning that its swing up will continue, also ichimoku has not yet indicated a trend reversal i am planning to hold until it reaches the top of the head and shoulder pattern that i have drawn out. The right shoulder will be made before the trend reversal the ichimoku cloud is flat where...
