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ADA (Cardano) Long opportunityCOINBASE:ADAUSD
Hello All!
Cardano has been traveling in a channel as can be seen in the chart. After about 2 months of falling, it's now again at its lower trendline which generates a good opportunity to go long!
Its also trading above its 50 daily EMA and has broken trendline 1 which was depicting its fall. These indications further support the idea of going long.
Also, the Reward to Risk ratio is favorable!
Do let me know your thoughts on this!
HAPPY TRADING!
Cardano Bullish ViewADA is currently forming a triangle pattern, if the breakout happens downward then the price will drop till the resistance.
if it breaks out upward then the price will move upwards.
The price currently is following a curve pattern and there is more chance of the price going to the 3 USD Mark very soon this year
ADA || Supports and Resistances & Buying ZonesWe Have Discussed Supports and Resistances in our videos and many are asking about the points where you can buy again and here we have discussed 3 different points where it is possible to get your order executed which you can see in your phone and laptops. look on the points and trade accordingly.
Happy Trading
ADA approaches all time high 🤩Cardano is looking to upgrade the network in the near future, bringing smart contracts to Cardano via a hard fork combinator (HFC) event.
“Any growth in the price of cryptocurrencies is either directly caused by positive news driving up sentiments among buyers or a growth in tandem with the overall market trend,” Yuri Mazur.
ADA has been observing the expected fall of each rising wedgewith one exception, each rising wedge has respected the last green candle lower body close as the target price once if falls out of the wedge. there was one notable exception when the redistribution fell to a lower level. on a macro basis, it makes sense for the tokens/coins to spend some more time down in this accum range since the whales are still figuring out their game. IMO - we won't see another real "bear market" for crypto. too many eyes on it now, too mainstream.