ADA • Cardano • Ongoing correction
Cardano is currently in what I believe to be a correction before continuing with mark up towards next target.
That supply trendline above price is currently acting as structural basis. Breaking and retesting above it will offer high probability setup.
Demand zones outlined in green are price ranges to be looking for long entries.
For the moment better stay out but not necessrly being exposed to short side. I think there is much more risk to the downside in case this alt decides to pump out of no where which is typical in a bull market and considering Cardano fundamentals seem to be strong lately.
That supply trendline above price is currently acting as structural basis. Breaking and retesting above it will offer high probability setup.
Demand zones outlined in green are price ranges to be looking for long entries.
For the moment better stay out but not necessrly being exposed to short side. I think there is much more risk to the downside in case this alt decides to pump out of no where which is typical in a bull market and considering Cardano fundamentals seem to be strong lately.
D7R
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.