Cardano Adds $300 Million : Bulls are back?
Updated
After 3 consecutive days in which the price of Cardano had a positive evolution, it finally went above the 20 days Moving Average leaving behind the bearish trend that started on the 5th of September.
If the closing price of the current candlestick on a 1D chart will be higher than the opening one, we could get a confirmation of a bullish trend based on the Bollinger Bands principles.
The RSI and the Stochastic are on neutral positions, while the MACD line is still above the Signal one indicating that the bullish trend we've seen since the 18th of September could continue.
In this scenario, the possible targets are :
* 0.0910$ (Resistance Level 1)
* 0.0984$ (Resistance Level 2)
* 0.1105$ (Resistance Level 3)
But if the price of Cardano at the end of the day will be in red, this means that the bullish trend has failed to confirm and the possible targets to be considered are :
* 0.0785$ (Support Level 1)
* 0.0661$ (Support Level 2)
If the closing price of the current candlestick on a 1D chart will be higher than the opening one, we could get a confirmation of a bullish trend based on the Bollinger Bands principles.
The RSI and the Stochastic are on neutral positions, while the MACD line is still above the Signal one indicating that the bullish trend we've seen since the 18th of September could continue.
In this scenario, the possible targets are :
* 0.0910$ (Resistance Level 1)
* 0.0984$ (Resistance Level 2)
* 0.1105$ (Resistance Level 3)
But if the price of Cardano at the end of the day will be in red, this means that the bullish trend has failed to confirm and the possible targets to be considered are :
* 0.0785$ (Support Level 1)
* 0.0661$ (Support Level 2)
Comment
Cardano tested Resistance 1 but no breakout yet.Comment
Are we heading to $0.11 in the upcoming week? Speculators remained Bullish.
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.