- Cardano reversed from the support area
- Likely to rise to resistance level 0.6000
Cardano cryptocurrency recently reversed from the support area between the long-term support level 0.515 (which has been reversing the price from November of 2023) and the lower daily Bollinger Band.
The upward reversal from this support area stopped the C-wave of the earlier weekly ABC correction (B) from the start of May.
Given the strength of the support level 0.515 and the oversold daily Stochastic, Cardano cryptocurrency can be expected to rise to the next resistance level 0.6000.
- Likely to rise to resistance level 0.6000
Cardano cryptocurrency recently reversed from the support area between the long-term support level 0.515 (which has been reversing the price from November of 2023) and the lower daily Bollinger Band.
The upward reversal from this support area stopped the C-wave of the earlier weekly ABC correction (B) from the start of May.
Given the strength of the support level 0.515 and the oversold daily Stochastic, Cardano cryptocurrency can be expected to rise to the next resistance level 0.6000.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
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.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
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.