Cardano (ADAUSD) is perfectly following the break and retest:
Click chart above to see the detailed analysis👆🏻
With an incredible +200% pump in November, Cardano is finally coming back to life after creating the bullish double bottom break and retest just a couple of months ago. Looking at previous cycles, this seems to be just the beginning of another +3.000 rally.
And Cardano is simply following the bullish strength of November and is currently just continuing with its bullish cycle. It is quite likely that - especially on the smaller timeframes - we will see at least a short term pullback but looking at the overall trend this is simply a tiny drop on a very hot and boiling oven.
Cardano is currently accumulating after pumping an unbelievable +200% in November. If we just look at the cycle of 2020, we also saw a quite decent pause after the first initial impulse, before Cardano then eventually continued with its parabolic move. This is quite likely to happen again soon.