Cardano here is revealing a bullish situation. Let's review the basics first.
The correction bottom low came in early February, on the third. Then a higher low happened on the 28th. Good. This higher low was followed by a strong bullish breakout on Trump news. Notice how the retrace remains really strong.
The low 28-Feb reached $0.5803. The low 4-March reached $0.7574. This is 30% higher compared to 28-Feb. Compared to 3-Feb, the most recent low is 51% higher. This reveals a bullish bias.
Even while there is a retrace the action is happening far away from support. This means that buyers are present, bears are weak. Volume. Ok.
Notice the volume. Very low volume on the descent.
Whatever you do, whatever you think will happen next, buy and hold steady, Cryptocurrency will grow. The Altcoins will grow. This chart is bullish and the recent breakout from a falling wedge pattern and current price action proves so.
There is no lower low possible on this chart. There is possibility for a little lower but that is not my guess nor my bet. The best the bears can do is push prices a little bit lower and create a new great entry for us, a great entry because we are going up next.
I think we will see higher prices almost right away. This bearish action is no bearish, I see only a simple retrace, classic reaction after a strong jump. Since this is classic, even more classic is a continuation after a higher low. The continuation will strong because the initial breakout was strong.
One thing to keep in mind though, we are entering a phase of long-term growth. So it will be mixed with some doubts while prices grow.
If in doubt, ever, just zoom-out. The chart is clear. Cardano is set to grow. It will continue growing long-term.
Below is the full long-term analysis including a potential target for a new All-Time High in 2025, this analysis is still valid today:
Thank you for reading.
Namaste.
The correction bottom low came in early February, on the third. Then a higher low happened on the 28th. Good. This higher low was followed by a strong bullish breakout on Trump news. Notice how the retrace remains really strong.
The low 28-Feb reached $0.5803. The low 4-March reached $0.7574. This is 30% higher compared to 28-Feb. Compared to 3-Feb, the most recent low is 51% higher. This reveals a bullish bias.
Even while there is a retrace the action is happening far away from support. This means that buyers are present, bears are weak. Volume. Ok.
Notice the volume. Very low volume on the descent.
Whatever you do, whatever you think will happen next, buy and hold steady, Cryptocurrency will grow. The Altcoins will grow. This chart is bullish and the recent breakout from a falling wedge pattern and current price action proves so.
There is no lower low possible on this chart. There is possibility for a little lower but that is not my guess nor my bet. The best the bears can do is push prices a little bit lower and create a new great entry for us, a great entry because we are going up next.
I think we will see higher prices almost right away. This bearish action is no bearish, I see only a simple retrace, classic reaction after a strong jump. Since this is classic, even more classic is a continuation after a higher low. The continuation will strong because the initial breakout was strong.
One thing to keep in mind though, we are entering a phase of long-term growth. So it will be mixed with some doubts while prices grow.
If in doubt, ever, just zoom-out. The chart is clear. Cardano is set to grow. It will continue growing long-term.
Below is the full long-term analysis including a potential target for a new All-Time High in 2025, this analysis is still valid today:
Thank you for reading.
Namaste.
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🚨 Long-term Success & Freedom Available Now! (Avoid Mistakes) —PREMIUM Channels 👉 lamatrades.com (Since 2017)
🥇 9999% Results
t.me/alansantana1111/5935
t.me/anandatrades/971
🏆 FREE Trade-Numbers
anandatrades.com
🥇 9999% Results
t.me/alansantana1111/5935
t.me/anandatrades/971
🏆 FREE Trade-Numbers
anandatrades.com
Related publications
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.