ADA gearing up for a huge upside|breakout from this channel ^^^
Updated
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Quick glance: As of now, Cardano is hovering around the $1.30 mark and is coinciding with the 50-day Moving Average. ADA has remained unaffected by the recent rally that was observed across the cryptocurrency spectrum.
Market in the last 24hrs
ADA remained tightly range bound. This channel pattern has been in place from February 27.
Today’s Trend analysis
In one of our previous educational posts, we discussed how such patterns are very significant. Even though the analysis aimed at intraday traders, it is equally true for such long term trades.
ADA is facing multiple resistance levels on the daily timeframe. ADAUSD is currently facing resistance from the 50-day Moving Average and is already below the 100-day MA. Therefore, the price could remain under pressure in the short run. However, once it manages to break-out from this channel, ADAUSD could potentially make a huge move on the upside.
Cardano has remained unscathed by the recent volatility in the market. The developer community of Cardano is active on various social media portals and have been talking about the projects in the pipeline.
Price volatility remained moderate at approximately 4.83%, with the day's range between $1.262 — $1.323.
Price at the time of publishing: $1.303
ADA’s market cap: $41.82 Billion
Volumes have remained low over the past 24 hours.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 24-hour candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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Keep supporting:)
-Mudrex
Quick glance: As of now, Cardano is hovering around the $1.30 mark and is coinciding with the 50-day Moving Average. ADA has remained unaffected by the recent rally that was observed across the cryptocurrency spectrum.
Market in the last 24hrs
ADA remained tightly range bound. This channel pattern has been in place from February 27.
Today’s Trend analysis
In one of our previous educational posts, we discussed how such patterns are very significant. Even though the analysis aimed at intraday traders, it is equally true for such long term trades.
ADA is facing multiple resistance levels on the daily timeframe. ADAUSD is currently facing resistance from the 50-day Moving Average and is already below the 100-day MA. Therefore, the price could remain under pressure in the short run. However, once it manages to break-out from this channel, ADAUSD could potentially make a huge move on the upside.
Cardano has remained unscathed by the recent volatility in the market. The developer community of Cardano is active on various social media portals and have been talking about the projects in the pipeline.
Price volatility remained moderate at approximately 4.83%, with the day's range between $1.262 — $1.323.
Price at the time of publishing: $1.303
ADA’s market cap: $41.82 Billion
- Out of 11 Oscillator indicators, 9 are neutral, none are bearish and 2 are bullish.
- Out of 15 Moving average indicators, 1 is 'NEUTRAL', 1 is bearish and 13 are bullish.
- Indicator summary is giving a ‘BUY’ signal on ADAUSD .
Volumes have remained low over the past 24 hours.
----------------------------------------------------------------------------------------
The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 24-hour candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
----------------------------------------------------------------------------------------
Keep supporting:)
-Mudrex
Trade active
All targets fulfilled. Although, it's been some time since the targets were fulfilled, I thought I needed to put an update.
Btw, my algo is still accumulating Cardano (ADA) at suitable opportunities.
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