Cardano had a crazy run until last week. But it is in a consolidation after a bull run. Now, if the supply zone is broken, the price may rise to 3.38 USD.
Here, after breaking the all-time high level of 2.4705, the price came back to test it and survived. It must now act as good support.
If the supply zone breaks, the target would be XABCD bearish crab pattern's 1.618 fib extension i.e., 3.38.
Put stop loss level at 2.47.
Happy trading :)
This is just for educational purposes.
Trade closed manually
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Due to a sudden crash in the Crypto market, this setup may not work.
If the price falls back to 1.89, you can go long with 1.495 as a stoploss.