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ADA - Time For a Bearish CorrectionADA - Time For a Bearish Correction Cardano broke down from an "Ascending Channel" pattern and it is pointing down for a possible bearish move. Price found a strong resistance zone near 0.6000 and it is like to test that zone again before the bearish wave begins. A strong support zone will be found near 0.5600 and near 0.5350 A move below the support zones above should push Cardano down even more. This can be also a small movement compared to what can really happen. However, let's see how the price will develop these days. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Short
by KlejdiCuni
Looks good in the long run.Cardano currency broke its 900-day downward trend in daily time and increased the possibility of growth. For friends who are looking for mid-term and long-term investments in digital currencies, this currency can be a good option that has the possibility of growing up to 90% and also 300%. But such growth requires a little patience because we have to wait for the breaking of the important resistance range and the stabilization of this breaking in the daily time. The important range of resistance in the daily time for this currency is specified in this analysis. Also, in the time of 4 hours, a corner pattern is forming, which can cause the correction of this currency. In this analysis, we went into a lot of detail about the future and support and resistance for this currency
Long
by karaco2022
Cardano | Lower High Or Straight Up Bullish?Let's dig out the truth and ask the chart... My question is the same as yours, "Will Cardano proceed to hit a higher high and continue higher in the coming weeks and months?" It is a fair question and to be honest, it is impossible to say for sure. All we can do is read the chart and the market and make an educated guess based on available data. Here is the daily chart: ➖ We have a peak 14-December 2023. ➖ Trading volume was rising daily until this peak hit. ➖ After 14-Dec. we have decreasing volume. We interpret this decreasing volume as a bearish signal. ➖ After the decreasing volume, 20-Feb. we have a lower high. Well, maybe tomorrow it will move higher and hit new highs; this is a possibility but we have a lower high followed by a bearish candle that broke below EMA10; again, with decreasing volume. We interpret this as bearish. ➖ After the 14-Dec. peak there was another attempt at resistance, 28-Dec.; another lower high. The RSI peaked 19-Feb. and is trending lower: This is all happening after ADAUSDT hit its May 2022 resistance. We can say: "If this happens, that happens and if such happens this happens... And we have a set of useless speculation." Hold on, I'll do it. If Cardano manages to break daily above its 14-Dec. peak and stay there, we can expect higher right away. This would negate the bearish bias and growth is possible... You see? But instead I prefer to read the chart. What I wrote above as "we" is a translation of the chart. Even if I want to consider the bullish potential all the signals are pointing lower. Even if Cardano moves up the potential is bearish. We have a bullish trend based on the early June 2023 low with bearish potential. The bearish potential remains open (valid) as long as Cardano trades below its mid-December peak. And as long as it stays below this level, we look for a second drop; a lower low before considering a new high and thus the "C" wave of a classic EW ABC correction. Namaste.
by AlanSantana
ADAUSDT,🟢Is it bullish or bearish?!🟢 (Details on caption) Well, as you can see the price started the retracement and hit the bullish order block that formed at the 0.705 Fibonacci level. Now if the price stabilizes above 0.536, we can expect the price to fill the FVG, but if the price is rejected from the bearish order block (0.5227-0.5367) we can expect the price reach to the previous low at 0.4477 and then 0.4110. 💡Wait for the update! 🗓️04/02/2024 🔎 DYOR 💌It is my honor to share your comments with me💌
by VahidTradingCR
3
ADAUSDT Price Movement and Potential Inverse H&S Pattern Hi there, ADAUSDT has a potential head and shoulders pattern forming, with the price possibly dropping to 0.5056-0.5030 or even lower for a bullish higher low to form the right shoulder. The key takeaway is that the right shoulder must be established for confirmation of the pattern. However, I am feeling impatient as the price is currently bearish towards the initial target of 0.5089 with a bullish bias towards 0.5475. Happy Trading, K.
by Khiwe
CARDANO|The start of a new bullish waveHello friends, I hope you are doing well. You can see the popular Cardano currency in the 4-hour time frame. Now it would be a good place for us to have an analysis of this currency. In the daily time frame, it had an eroding downward trend in the form of a descending channel, which has now broken this channel upwards. In fact, it is also considered a flag pattern. In the 4-hour time frame, a descending channel has broken upwards, and an important supply area that has prevented price growth twice has also broken upwards. This is a sign of aggressiveness and significant upward movement. Bitcoin is very bullish and Cardano shows signs of further growth. Look for opportunities to enter buy positions in the demand areas drawn on the chart. The short-term targets are 0.61 and 0.64 , and the long-term target is 0.83.
Long
by Golden_Star1994