Cardanos coming to the end of a Daily Triangle Pattern.
At this point Cardano has seen a lot of play around the .5 Fib that I'd wait for a close at or above 2.06 before entering trade even if price breaks through upper trendline
Most bullish scenario would see cardano breaking the .5 Fib level along with the 50 EMA at 2.12
MACD divergence above signal line may also signal bullish trend.
RSI remains below 50.
Price Targets for breakout (Basically pay attention to the Fib levels)
- Target 1 - .618 Fib (2.31)
- Target 2 - .786 Fib (2.66)
- Target 3 - 1.00 Fib (3.10)
- Target 4 - 1.618 Fib (4.40)
Target 4 unlikely with such a high market cap but I guess you never know in this market ¯\_("-")_/¯
Failure to push past the .5 Fib level invalidates bullish trend and I'd wait to see a close above the .5 Fib or below the 1.91 bottom trendline before deciding on entry.
Definitely a coin to watch
NFA
At this point Cardano has seen a lot of play around the .5 Fib that I'd wait for a close at or above 2.06 before entering trade even if price breaks through upper trendline
Most bullish scenario would see cardano breaking the .5 Fib level along with the 50 EMA at 2.12
MACD divergence above signal line may also signal bullish trend.
RSI remains below 50.
Price Targets for breakout (Basically pay attention to the Fib levels)
- Target 1 - .618 Fib (2.31)
- Target 2 - .786 Fib (2.66)
- Target 3 - 1.00 Fib (3.10)
- Target 4 - 1.618 Fib (4.40)
Target 4 unlikely with such a high market cap but I guess you never know in this market ¯\_("-")_/¯
Failure to push past the .5 Fib level invalidates bullish trend and I'd wait to see a close above the .5 Fib or below the 1.91 bottom trendline before deciding on entry.
Definitely a coin to watch
NFA