Cardano is trying to break 610 sats for 4th time.
In the meantime it has forming Ascending triangle just like Bitcoin few months ago.
If 610 breaks and holds, i am expecting 700 sats to be immediate target.
Harmony is approaching buy zone soon. Its been bleeding continuously with very low Volume.
It may find support at around 260-265 region and then next support is 230.
Mainnet launch is expecting by end of this month, so its gonna bounce hard and my targets will be 310>350>400.
After a month long of Consolidation inside this Sym Triangle, Cardano is finally looking to break out of it.
If the triangle is broken in next few hours, my Target is 1380 sats. Otherwise retrace towards 1050 sats and wait for the next attempt.
Remember Shelley is coming in July if i am not wrong. This thing is gonna explode next month.
P.S Do not Short.
Yesterday, Fetch Brokeout of the Sym Triangle and we can argue on it being ascending Triangle too.
Price touched 2800 sats area which fib shows as 0.382 Retracement area. Price have pulled back quite a bit and currently its forming Bull Flag.
If this Bull flag works out, our next target is 3k or slightly above that.
Trade on breakout of the bull flag. Also...
Currently, Handle is being Printed on the chart.
Harmony is the most hyped IEO on Binance. Record Volume on the day it was listed.
It has been holding pretty well when BTC has been dumping. My guess is it will reach close to 400 sats if this Cup and handle pattern works out.
1350 sats was the neckline of the inverse Head and shoulder. This is the zone which lead to the breakout.
IHS played out very well and our target of 1900 was reached.
A full retrace to Breakout zone so early is a surprise. But, none the less cardano price against btc is in buy zone and this support should hold.
My Previous support zones were 1700 and 1530....
As said in previous Update, 1700 will act as a support and it did. Bitcoin Retracement helped cardano to test that 1700 support.
Current price is 1820 sats and once again we are looking to test that 1940 Resistance.
FIB Retracement tool shows next resistance at 1940, 2200 and 2580 zone.
We almost reached our IH&S Target of 1900 Sats Today.
Target was reached way earlier then i expected. Which means there is more room for growth before ADA summit on 17th-18th april.
If we Break 1900 sats in few days and close above it then we may go towards 2400.
If BTC helps Ada may also reach 3k Sats very soon.
Positive Signal: 50 EMA Crossing 200 EMA on...
Absolute Beauty !!!
Look how Well FIB Retracement sits.
A long way to go for ADA to Break that ATH. So, lets take this step by step.
Currently, Ada is fighting with the neckline of the possible Inverse head and shoulder bottom.
IHS target is around 1900-1950 zone. Which also happens to be 0.5% retracement zone.
Shelley is Coming.
1H Chart shows that the price bounced and again trying to retest that 840 support zone.
If we do not bounce from here soon, we may see a failing falling wedge pattern which means more downside.
ADA Price action totally depends on BTC price movements currently. If btc price discovers 2500 area to be the bottom, then ADA may capitulate to around 600-650 zone.
Cardano (ADA) is mimicking BTC moves.
A falling Wedge is forming on daily chart and currently the price is sitting right on support.
Stoch RSI Approaching oversold zone + bullish Divergence can be seen.
RSI in Oversold Region. A Bounce from this area is very important or else we will see 600-700 zone as a bottom.
BTC shorts on Bitfinex have reached the zone for the sixth time. Every time BTC price goes up to liquidate shorts.
Wait for the confirmation before making a move.
BTC chart showing bullish Div in Link to related ideas.
We noticed a Triangle forming on 1h chart and fortunately for bulls, it broke out from it and reached our target of 4050 on coinbase and 4150 on Bitfinex.
A small correction may follow & Daily Close above 4100 is important for more upside.
Chances are 3500 was indeed the bottom of this bear season for Bitcoin.