Hello Traders Investors And Community,
Welcome to this analysis about Cardano, we are looking at the 2-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. In the previous analysis, I already mentioned the bullish potential that Cardano has when it manages to show up with the right price-actions, in this case now I discovered that Cardano is forming a formation that can move on with pullbacks testing lower levels before a sustainable stabilization can finally set-up, therefore I detected all the important levels and likely destinies we should consider within the established structure and the upcoming movements ahead.
Structural Developments:
As when looking at my chart now we can watch there how Cardano has developed this main ascending-channel-formation in the schedule marked with the blue boundaries in my chart, currently Cardano is still holding above the 65-EMA in red as well as the 45-EMA in green, these together with the lower boundary of the channel are main reference-points holding initially the bullishness to the upside however when they are broken to the downside it will complete the formation as a bear-flag and as Cardano continues now with its wave-count which will finalize within the resistance-cluster marked in red this can be a likely scenario that should not be underestimated.
Upcoming Determinations:
Taking all these factors into the consideration now Cardano is in a situation in which it has a higher possibility to complete this channel as a bear-flag to the downside, therefore when Cardano closes below the lower boundary as it is marked in my chart it will complete it as a bear-flag and will indicate the further bearish pressure to test lower levels, in this case, when Cardano approaches the blue supports within the 1.05 level there is the possibility given for the sustainable stabilization and testing of upper resistances as already suggested Cardano has still bullish potentials on the more global perspectives and on the more middle-to-long-term, it will be an interesting development.
Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
"The high destiny of the market is to explicate, rather than to speculate."
Information provided is only educational and should not be used to take action in the market.
Welcome to this analysis about Cardano, we are looking at the 2-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. In the previous analysis, I already mentioned the bullish potential that Cardano has when it manages to show up with the right price-actions, in this case now I discovered that Cardano is forming a formation that can move on with pullbacks testing lower levels before a sustainable stabilization can finally set-up, therefore I detected all the important levels and likely destinies we should consider within the established structure and the upcoming movements ahead.
Structural Developments:
As when looking at my chart now we can watch there how Cardano has developed this main ascending-channel-formation in the schedule marked with the blue boundaries in my chart, currently Cardano is still holding above the 65-EMA in red as well as the 45-EMA in green, these together with the lower boundary of the channel are main reference-points holding initially the bullishness to the upside however when they are broken to the downside it will complete the formation as a bear-flag and as Cardano continues now with its wave-count which will finalize within the resistance-cluster marked in red this can be a likely scenario that should not be underestimated.
Upcoming Determinations:
Taking all these factors into the consideration now Cardano is in a situation in which it has a higher possibility to complete this channel as a bear-flag to the downside, therefore when Cardano closes below the lower boundary as it is marked in my chart it will complete it as a bear-flag and will indicate the further bearish pressure to test lower levels, in this case, when Cardano approaches the blue supports within the 1.05 level there is the possibility given for the sustainable stabilization and testing of upper resistances as already suggested Cardano has still bullish potentials on the more global perspectives and on the more middle-to-long-term, it will be an interesting development.
Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
"The high destiny of the market is to explicate, rather than to speculate."
Information provided is only educational and should not be used to take action in the market.
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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.
►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
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.