Time to Buy Cardano..? Analyzing the Current Breakout
Cardano (ADA) has recently surpassed a significant resistance level on the daily timeframe, but it is currently facing challenges in maintaining its position above this level. A potential long trade could be considered if the daily candle closes at or above the 0.8200 mark. Conversely, if the price fails to hold above this level and begins to decline, a short position may be warranted once the price falls to or below the 0.7400 level on the daily candle, with a recommended stop loss set at 0.8100.
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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.