In the current daily chart of #ADAUSDT on Binance, we can observe a descending wedge pattern forming over the past few months. The price has been consolidating within this wedge, which is typically considered a bullish continuation pattern. The potential breakout from this pattern could result in a significant upside move, possibly targeting the 0.7876 level, representing a potential 128.23% gain from the current price level of 0.3392 USDT.
This setup could indicate a strong buying opportunity as the market anticipates a reversal from the recent downtrend. Keep an eye on the breakout level, as a confirmed breakout with increased volume might signal the beginning of a new bullish trend for Cardano.
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This setup could indicate a strong buying opportunity as the market anticipates a reversal from the recent downtrend. Keep an eye on the breakout level, as a confirmed breakout with increased volume might signal the beginning of a new bullish trend for Cardano.
⚠️ All trading ideas are published with a time delay. If you want to follow the trading in real-time, please follow the link:
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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.