Cardano ready for 80% push after breaking sideways range!
Cardano (ADA). One of the majors finally breaking a massive range after 6-months of sideways continuation.
Usually, these accumulation ranges indicate a bottom, especially when they make such a scamwick as Cardano did a few weeks back.
How is this setup defined?
Well, the major resistance was 535-550 satoshis. That’s broken to the upside.
A retest of this green zone would be a great entry and confirmation of the breakout of this range. Holding that green zone and we’re targeting the following levels;
- 650 satoshis
- 860 satoshis
- 1000 satoshis
Clear invalidation with higher timeframe close below 525.
Usually, these accumulation ranges indicate a bottom, especially when they make such a scamwick as Cardano did a few weeks back.
How is this setup defined?
Well, the major resistance was 535-550 satoshis. That’s broken to the upside.
A retest of this green zone would be a great entry and confirmation of the breakout of this range. Holding that green zone and we’re targeting the following levels;
- 650 satoshis
- 860 satoshis
- 1000 satoshis
Clear invalidation with higher timeframe close below 525.