Cardano | Weekly Timeframe
For Cardano (ADAUSD), we are going to use the weekly timeframe to avoid all the noise.
Here:
We have many bearish signals within a bearish trend.
There is a scenario where the big ones fall while the smaller ones grow (altcoins)... We will see.
Now, looking at the main chart, notice the volume.
We see low/declining volume, this happens before a strong move.
After a new high, it is normal to have a correction so we can expect prices to drop... That's what we see by looking at the chart.
Conditions for change
It can change. If you see a big green candle, high volume, that pushes prices above $1.426 or EMA50, then you can say that the bulls are back in the game.
If things continue as they are now, expect to visit soon the next support; that's lower.
Namaste.
Here:
We have many bearish signals within a bearish trend.
There is a scenario where the big ones fall while the smaller ones grow (altcoins)... We will see.
Now, looking at the main chart, notice the volume.
We see low/declining volume, this happens before a strong move.
After a new high, it is normal to have a correction so we can expect prices to drop... That's what we see by looking at the chart.
Conditions for change
It can change. If you see a big green candle, high volume, that pushes prices above $1.426 or EMA50, then you can say that the bulls are back in the game.
If things continue as they are now, expect to visit soon the next support; that's lower.
Namaste.
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🚨 Free PREMIUM Trade-Numbers
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