Cardano / ADAUSD is trading over the 1day MA50 in the past 5 days.
The pattern on the 1day time frame is a Triangle, with Support A (0.23500) holding on three different occasions and the next obstacle to overcome being the Falling Resistance (top) of the Triangle.
Right now as long as the MA50 holds, you can target 0.28855 (Fibonacci 0.236).
If the Falling Resistance breaks, you can re-buy and target 0.37500 (Fibonacci 0.618 and previous Lower High).
The 1day RSI has its own Falling Resistance to consider.
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The pattern on the 1day time frame is a Triangle, with Support A (0.23500) holding on three different occasions and the next obstacle to overcome being the Falling Resistance (top) of the Triangle.
Right now as long as the MA50 holds, you can target 0.28855 (Fibonacci 0.236).
If the Falling Resistance breaks, you can re-buy and target 0.37500 (Fibonacci 0.618 and previous Lower High).
The 1day RSI has its own Falling Resistance to consider.
Follow us, like the idea and leave a comment below!!
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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.
TheCryptagon offers news & insights on global markets (crypto, forex, stocks, commodities). Follow so you don't miss anything!
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
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.