Altsignals

CARDANO - Bulls Making A Comeback - ADAUSDT

BINANCE:ADAUSDT   Cardano / TetherUS
In our last analysis, we were anticipating a breakout for Cardano from the descending correction. We mentioned to watch for buying pressure near the 200EMA, Major Trendline & previous structure. We got a really big push up which broke the descending correction confirming that bulls are back in this.

A few important things to keep an eye on for Cardano is the 1.85 level where we have previous structure that lead to a 40% drop. Once we clear 1.85, we can possibly hit new highs!

We are currently in what looks to be a bullish correction. For a risk entry, we will be watching the 1.600 level to break to take this higher.
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Comments

it is currently on a downward spiral
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it will come to test support again
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