80 cent Cardano
Setting a limit order for $.80 ADA. It won't be around for long but I think the wick might touch 80 cents.
The RSI reached 91 and I think it still needs to correct a little more. The chart may be forming a "B" wave so it will probably go up a little before plummeting down again. Sub $.90 is a good buy. Just to be clear, the fib retracement is an estimate.
It does have some strength showing but I think it will fall apart. Cardano has decoupled from other cryptos at least in the short term, so I see a lot of cryptos doing better than ADA in the short term while it takes a much needed correction.
The RSI reached 91 and I think it still needs to correct a little more. The chart may be forming a "B" wave so it will probably go up a little before plummeting down again. Sub $.90 is a good buy. Just to be clear, the fib retracement is an estimate.
It does have some strength showing but I think it will fall apart. Cardano has decoupled from other cryptos at least in the short term, so I see a lot of cryptos doing better than ADA in the short term while it takes a much needed correction.
Note
Moment of truth here with a flash of resistance here right where I drew it. It's up or down time. RSI is still trending down and is at a critical level of frequent support/resistance.
Volume has tapered off as well.
I'm seeing technicals that indicate this correction isn't completely over so I'm still thinking we need the C wave down to my target zone.
Note
What started immaculately ended up missing by 10%... or did it?Is this a double top reversal?
Was this altcoin rally a little premature?
Is it once again time for Bitcoin to steal the show?
What is Cardano for again?
So many questions.
I'm not yet ready to buy back in.
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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.