CardanoUpdated ADA: Bullish 🐂 or Bearish🐻 Scenario?
A few scenarios can play out for ADA (a lot will depend on Bitcoin's movement):
Bullish Scenario #1: ADA breaks upward past local resistance.
Bullish Scenario #2: If ADA successfully breaks the local resistance, it will need to contest the major downtrend line. If that breaks upward, ADA will attempt to re-test previous ATH around $3.
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Bearish Scenario #1: Current triangle breaks down and moves sideways within the local support zone.
Bearish Scenario #2: If local support breaks, major support will be tested around $2.
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This is not financial advice. These are just my ideas and opinions.
Bullish Scenario #1: ADA breaks upward past local resistance.
Bullish Scenario #2: If ADA successfully breaks the local resistance, it will need to contest the major downtrend line. If that breaks upward, ADA will attempt to re-test previous ATH around $3.
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Bearish Scenario #1: Current triangle breaks down and moves sideways within the local support zone.
Bearish Scenario #2: If local support breaks, major support will be tested around $2.
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This is not financial advice. These are just my ideas and opinions.
Note
ADA broke through local resistance!Note
Bitcoin just had a Golden Cross.Note
ADA is once again trading at local support which has held several times now.Note
Major Support area in play right now.
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.
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.