🔍📉 "Cardano Coin Analysis: Crucial Point and Sensitivity" 📊🌟
🕵️♂️ Let's dive into the analysis of Cardano, a well-known cryptocurrency, and explore its trading potential.
🗓️ In previous analysis, it was mentioned that after breaking the support line at 0.5651, you could open short positions and hold them for a long time.
⏳ However, what happened after this analysis was that Cardano experienced about a 30% decline and is currently sitting calmly on the support at 0.4384, oscillating in the short term.
🔄 Now, let's examine the chart together and analyze the probabilities of new events and scenarios to open positions in the direction of the trend and make profits.
📉 For short positions, we have an important support ahead that has been tested several times. Every time we bounced off this support, we hit lower ceilings, indicating the presence of sellers and weakening buyers. Therefore, after breaking and losing this support at 0.4384, we can open short positions on lower time frames.
📈 But for long positions, we have a descending trend line. After a few suitable touches, the price has been pushed down each time, and this line has been a good resistance for the price. Now, if this trend line breaks and the confirmation at 0.5191 is given, we can open long positions and have a higher probability of reaching 0.7810 again.
🛒 If you intend to buy this coin, I suggest you wait for another entry point for now. If all entry points are missed, you can consider buying this coin for spot trading after 0.7810. However, I recommend looking for another coin because Cardano doesn't seem to be a suitable project for new bulls, and because the project doesn't deliver on its promises.
💪 The upcoming supports for Cardano are at 0.3945, 0.3545, 0.3030, 0.2659, and the resistances are at 0.5675, 0.6836, 0.7810, with the most important being 0.7810.
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
🗓️ In previous analysis, it was mentioned that after breaking the support line at 0.5651, you could open short positions and hold them for a long time.
⏳ However, what happened after this analysis was that Cardano experienced about a 30% decline and is currently sitting calmly on the support at 0.4384, oscillating in the short term.
🔄 Now, let's examine the chart together and analyze the probabilities of new events and scenarios to open positions in the direction of the trend and make profits.
📉 For short positions, we have an important support ahead that has been tested several times. Every time we bounced off this support, we hit lower ceilings, indicating the presence of sellers and weakening buyers. Therefore, after breaking and losing this support at 0.4384, we can open short positions on lower time frames.
📈 But for long positions, we have a descending trend line. After a few suitable touches, the price has been pushed down each time, and this line has been a good resistance for the price. Now, if this trend line breaks and the confirmation at 0.5191 is given, we can open long positions and have a higher probability of reaching 0.7810 again.
🛒 If you intend to buy this coin, I suggest you wait for another entry point for now. If all entry points are missed, you can consider buying this coin for spot trading after 0.7810. However, I recommend looking for another coin because Cardano doesn't seem to be a suitable project for new bulls, and because the project doesn't deliver on its promises.
💪 The upcoming supports for Cardano are at 0.3945, 0.3545, 0.3030, 0.2659, and the resistances are at 0.5675, 0.6836, 0.7810, with the most important being 0.7810.
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
