ADAUSDT

Updated

Cardano, with the coin symbol with the present market capitalization is currently the 4th coin on the coinmarketcap. Follow up the thread below for the analysis.

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On the daily timeframe of ADAUSDT, the market is overview is bullish and it seems that pair actually moves according to structure. The minor corrections are effective for the ‘supposed’ continuous bullish movement of the market.

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The overall market on the 4 hour timeframe is still obviously bullish as I identified two recent key levels which price is currently resting on. Don’t be fast in get in because of the bullish confirmations on the daily and 4 hour timeframe. Let’s see what we can deduce on the 1 hour timeframe to see whether there would be a continuation from there or whether it’s liable to be broken.

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What’s the first thing you see on the 1 hour timeframe? Break out of downward trend and retest plus price is also at an obvious support level and I have also marked out two take profit areas.

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Nevertheless, I would go with only the first target because of the bearish candle presently forming on the weekly timeframe. Please note that everything I have said is not financial advice and I am not responsible for any financial decisions you might make. Do well to drop your comments and contributions on this too. Trade safely.

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