Cardano has formed a finished bullish cypher. According to my counts, the key resistance zone is located in the area of 0.087. However, on the way up to the mentioned key level, the price will face three more resistances. As the consequence of this collision we would have a Elliott Waves pattern.
At the bottom of the downward movement we can see a bullish wedge. As you know - falling wedge is the reversal pattern which makes the actual support even stronger. Moreover, there is a convergence on RSI - another bullish sign. Despite all these bullish factors, the price can return to the downward vector, so be careful. All resistances were mentioned on the chart, you can use them as targets.
At the bottom of the downward movement we can see a bullish wedge. As you know - falling wedge is the reversal pattern which makes the actual support even stronger. Moreover, there is a convergence on RSI - another bullish sign. Despite all these bullish factors, the price can return to the downward vector, so be careful. All resistances were mentioned on the chart, you can use them as targets.
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Klondike Official Links:
Website:
klondikepro.com/
Public Telegram Channel:
t.me/CryptoKlondike
Twitter:
twitter.com/Robert_Klondike
Trade on Bybit with us:
partner.bybit.com/b/6694
Website:
klondikepro.com/
Public Telegram Channel:
t.me/CryptoKlondike
Twitter:
twitter.com/Robert_Klondike
Trade on Bybit with us:
partner.bybit.com/b/6694
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.