Cardano [ADA] Massive breakout Hi everyone,
Today we saw Cardano breaking out its ascending triangle formation after a consolidation period of nearly 2 months.
If ADA manages to stay above the structural formation, other important levels can be tested.
Potential target points are mapped on the chart.
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Cardanousd
[UPDATE ADA] 2$ SUPER SOON! THEN BULL RUN UNTIL 6$-10$!ADA is chilling lol (even with the Africa news)! It's super ready to pump in May up to 2.80$! Anyway, 2$ is easy in May.
Look at the RSI (the lowest of the past year). From that point, we had +1000% in 5months.
I'm expecting something similar for this next Q2-Q3 cycle.
My final forecast is approx 10$ ADA. A conservative scenario is 6$. This is very easy. I wonder if this crazy market will push ADA even further than 10$?
HOLD!
$ADA - keeping this one simpleAscending wedge again similar to BTC 1D, LTC and DOGE LTF setups from yesterday
Safest entry is buying a retest of the cap of the ascending triangle which is 1.488
If no retest pick up a HL after the deviation level has been claimed, as this confirms bullish market structure
Fundamentally this is a more efficient version of ETH, but at this moment less used
Targets shown on screen, for me mainly the 2.0 at $2 and the measure move at $2.3
Cardano: Breaking Out with Climax Buy VolumeOn April 8th big players stepped in as can be seen on this
chart with the cyan blue colored bar. There was an incredible
amount of volume but the range of the bar was small. This is
known as "high churn".
Price continued to stay above 1.18 and on April 12th a buy climax
volume bar printed (blue bar on chart) with a high of 1.345. Three
buy climax bars followed one of which put in a new all time high.
Four climax bars in a row is a strong indication that we are going to see
higher prices. Somewhere between a 65%-80% chance price will
put in a new high.
April 16th bar was a bullish bar and there is no indication yet that
price is selling off or correcting. Price will have to go below the low
of the April 13th and/or April 12th bar to change the probabilities in
the favor of the sellers and move price back down to support levels
around 1.16 or 1.05.
We'll see what the next bar brings!
Note: I am currently long Cardano and I went long around April 9th.
Peep this ADA Monthly ChartIf you've followed any of my ADA posts you know I've been heavily invested since the $0.05 days.
This Monthly chart is very bullish.
- Over the course of the last 2.5 months we've established strong support between $1.15-$1
- Bear volume has been weak
- Cardano has since then been added to Coinbase Pro thus expanding it's exposure and availability to the public
- Cardano is FULLY DECENTRALIZED as of March 31st
We may range +- $0.10 over the next 2 weeks before having a performing month in May.
However, the Bitcoin chart, on the Monthly, is something you'll want to keep an eye out on.
At some point we will have a pullback month much like in the 2017 cycle. Obviously things are vastly different and given the covid situation anything can happen. However, by tracking BTC, it can give more context on the short term movement within the overall macro trend. So, if BTC has a pullback month in May, expect ADA to do the same.
Additionally, a pullback from BTC would allow it to establish a Monthly support to which we could then measure the possible target of the next leg up on a Monthly chart.
ADA .. Let's go to 2 baby, come on Cardano Cardano, CARDANO!
What a nice coin to have but how many times has it either bored us to death, made us feel like we missed out on other opportunities, or even dipped to support before rising again... I know!
But we want to see the 2$ mark and we might see it now.
so//let's GO Cardano!!!
ps. my last name starts with 'ADA' so maybe I am bit emotionally attached to this project. Don't listen to me, buy something else (kidding you- go buy some ADA now fellows)
FXPROFESSOR