Cardano has had a few attempts to break out this year but somehow manages to lose steam on its way up. We are now approaching a pivotal price 1.15 where we have multiple confluences for the upside. However if we break that level, we could see Cardano tumble much lower than the major bull run this year.
Again we have a descending trendline which we will be...
Fibonacci Channels are used to determine fibonacci support and resistance levels within an identified trend.
These channels can easily be drawn in both uptrends or downtrends to find potential areas where price action could change.
When drawing a Fibonacci Channel on an uptrend, a clearly identified trend needs to be established with higher lows ...
Ada has completed its 5 waves according to Elliot waves and started its correction from 2.48$.
Considering that it has repeatedly attacked the support of about 1$ but failed to break it, we predict that in the continuation of the correction process, it will have a distance to the area of 152$ to 154$.
And breaks this support with strength, continue this decline to...
SUMMARY: Short, balance of probability is that it will break down.
-- Technical --
Target is $1.18 for a downwards breaks of the rising wedge - bear signal.
Stoch RSI is overbought - bearish signal
RSI probably will continue down, after previous days of appreciation.
MACD shows momentum to the downside.
If it was to break up, say with a BTC surge, then...
Possible Route by ADA?
Please do not consider this as FA. I'm a fairly new trader, learning on the Go!
Dump Levels within the Lower Yellow Line - Positive Bullish Market Emotion.
Dump Levels breaks the Lower Yellow Line - Negative Bearish Market Emotion.