CardanoLong
Bullish reversal ADA, RSI climbing, new ATH in a few weeks.
Hi all!
It's a continuation of my previous post.
The reversal seems to be confirmed for ADA. ADA has been trading within a descending triangle for a very long time, and has tested the 1.50 price level three times now. It's very likely that a fourth time will follow, and will be successful!
We can see a close today of a bullish candle: the hammer. Which is a signal for bullish reversal.
The RSI reached a low level (for a bull market) of 44. Which is as low as it was before the biggest surge we've seen this year which started in December 2020. This surge meant a massive increase for ADA [0.15 to 1.50 USD]; 10X increase.
Once ADA breaks out of this pattern we'll soon forget about the 1.50 resistance and make ATH's way higher.
It's a continuation of my previous post.
The reversal seems to be confirmed for ADA. ADA has been trading within a descending triangle for a very long time, and has tested the 1.50 price level three times now. It's very likely that a fourth time will follow, and will be successful!
We can see a close today of a bullish candle: the hammer. Which is a signal for bullish reversal.
The RSI reached a low level (for a bull market) of 44. Which is as low as it was before the biggest surge we've seen this year which started in December 2020. This surge meant a massive increase for ADA [0.15 to 1.50 USD]; 10X increase.
Once ADA breaks out of this pattern we'll soon forget about the 1.50 resistance and make ATH's way higher.
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Related publications
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.