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Cardanousdt

ADA Sell a break of $2.Cardano - Intraday - We look to Sell a break of 1.998 (stop at 2.057) Trades with a bearish descending triangle formation. We are trading at overbought extremes. Bearish divergence is expected to cap gains. Posted a Double Top formation. Pivot resistance is at 2.250. A break of bespoke support at 2.000, and the move lower is already underway. Our profit targets will be 1.825 and 1.785 Resistance: 2.150 / 2.200 / 2.250 Support: 2.050 / 2.000 / 1.950
KRAKEN:ADAUSDShort
by Signal_Centre1
8
Cardano - Situational UpdateOn the left we see the 4 hour chart with a bounce of the 4H 20MA, the RSI has retraced back into the neutral zone and the MACD has crossed bearish. IF the current bar can close above $1.785 to print a higher high in the 4 hr, then a case could be made that the rally could continue very quickly. On the right we see the daily chart, with a very indecisive red candlestick, and two zones of prior resistance awaiting to be confirmed as support at $1.61 and then lower at $1.50. The RSI is still over bought and the MACD looks to have reach a sort of peak, although it isn’t very convincing as a peak and could support a continuation. However, the big tell for me is that the price is still above the standard deviation line of the upper Bollinger Band and that speak to the need to reconfirm to reconnect to the 1D 20MA centre line (projected as a dashed line). So in summary, I think there is scope here for another day or so of correction, touching at least $1.61 and possibly $1.50 before the “worm turns” and we see price chase that up-thrusting curve on the way to $3.00.
by Crypto-Swing
7