Here we are looking at ADAUSD on the 4hr time frame…
In trying to determine what Cardano will do next, let’s take a look at its current price levels. Since January first, Cardano has rallied with the rest of the market. In just the last 5 weeks, Cardano has rallied just under 70%!
The question we must analyze in the short term is where this rally will run into significant resistance, as it has been relatively smooth sailing to this point...
As seen on the chart, the parallel resistance channel seems like a strong zone to watch. Not only has ADA rallied 68% in less than five weeks, but it hadn’t really run into any significant resistance zones until now.
I would expect ADA to continue bouncing between support (blue ascending line) and resistance (channel). I will continue to monitor this chart, and update you when there’s a development in its chart!
Trade safely…
Cheers!
In trying to determine what Cardano will do next, let’s take a look at its current price levels. Since January first, Cardano has rallied with the rest of the market. In just the last 5 weeks, Cardano has rallied just under 70%!
The question we must analyze in the short term is where this rally will run into significant resistance, as it has been relatively smooth sailing to this point...
As seen on the chart, the parallel resistance channel seems like a strong zone to watch. Not only has ADA rallied 68% in less than five weeks, but it hadn’t really run into any significant resistance zones until now.
I would expect ADA to continue bouncing between support (blue ascending line) and resistance (channel). I will continue to monitor this chart, and update you when there’s a development in its chart!
Trade safely…
Cheers!
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Get trade alerts with exact entries and exits + daily videos with deep dive technical analysis on stocks, crypto, commodities and options. Find these at VerifiedInvesting.com
免責事項
これらの情報および投稿は、TradingViewが提供または保証する金融、投資、取引、またはその他の種類のアドバイスや推奨を意図したものではなく、またそのようなものでもありません。詳しくは利用規約をご覧ください。