Hi traders,
We are looking at the 1 hour graph of ADA/USD.
As we can see, the long term trend is bullish. Furthermore, a falling wedge is forming which is a healthy sign.
After a period of increase, consolidation takes place in the form of a wedge. The buyers take it easy for a while and even take some profit again, producing slightly lower tops and bottoms. Ultimately, the buying pressure increases again and the price breaks out of the wedge upwards. The theory is that the rise that follows is the same as the initial rise towards the wedge. We could see this type of price action in the next few days.
Furthermore, Cardano, the company behind the token ADA is confident about reaching a fully decentralized platform on 31-03-2021. Which means that Cardano’s community network of over 1,800 pools will be responsible for 100% of the block production. The previous seems like a huge step forward.
This is not financial advice, I am not a financial advisor.
Thanks.
We are looking at the 1 hour graph of ADA/USD.
As we can see, the long term trend is bullish. Furthermore, a falling wedge is forming which is a healthy sign.
After a period of increase, consolidation takes place in the form of a wedge. The buyers take it easy for a while and even take some profit again, producing slightly lower tops and bottoms. Ultimately, the buying pressure increases again and the price breaks out of the wedge upwards. The theory is that the rise that follows is the same as the initial rise towards the wedge. We could see this type of price action in the next few days.
Furthermore, Cardano, the company behind the token ADA is confident about reaching a fully decentralized platform on 31-03-2021. Which means that Cardano’s community network of over 1,800 pools will be responsible for 100% of the block production. The previous seems like a huge step forward.
This is not financial advice, I am not a financial advisor.
Thanks.
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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.