For the past 2 years
ADAUSDT have been in a downtrend, it broke out of the Descending Channel, retested it and created the clear bullish path by creating a higher high and a Change of Character not just on the chart alone but also on the RSI both on the daily and weekly and that is a very strong bias right there.2 scenarios here, it is no doubt that the burst up is an impulse but we are in between considering it as a 1-2/1-2 which is extremely bullish for Cardano and that will mean that this current price action is the wave 2 considering it already retraced over 60% Fibonacci and that also means that this is the cheapest we would be seeing
ADAUSDT in the next few years or we could say the other scenario is where the wave B-green is wave 1-yellow and what that means is that even though we see price surge by 10-50% ADA will still make a new swing higher low at 70-90% Fibonacci level ($0.3 - 0.25) but not less than the invalidation level.If you're a day or swing trader you might want to catch the 20% up and exit at 50% but if you're a position trader looking to ride this imminent bull run, the sky is your limit.
PREVIOS ANALYSIS
OTHER ANALYSIS
ACAUSDT
MANAUSDT
ADAUSDT
LINKUSDT
CFGUSDT
Note
From point of entry ADAUSDT has gained over 20%. If you've been following, you will know that while many was in fear we were buying. Book some little profit along the way.
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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.