Yello Paradisers, are you ready for what Cardano is about to do next? After weeks of being trapped in a falling wedge, #ADA has finally broken out and this move could either be the start of something big or just another fakeout to trap late buyers.
💎Price has now closed above the descending resistance, confirming the breakout of the falling wedge structure. The 0.7300–0.7450 zone is currently acting as the first area of support. This level needs to hold in order to maintain bullish momentum, or the entire setup could be invalidated. Below that, the major demand zone between 0.6700 and 0.7100 remains critical if #Cardano slips into that range, we’ll be watching for either a bounce or signs of a deeper breakdown.
💎On the upside, the first short-term target sits at 0.8600 where minor resistance is expected, but the real battle will take place between 0.9300 and 0.9500 a strong resistance zone where many traders will be looking to take profits or re-enter shorts. Momentum indicators are showing early strength, with RSI recovering and confirming renewed buyer interest.
💎If bulls can maintain control above the breakout zone, #ADA could enter a healthy consolidation phase before launching into the next leg up. However, a drop below 0.6600 would completely invalidate the current structure and shift the bias back to the downside so risk management remains essential here.
🎖Strive for consistency, not quick profits. Treat the market as a businessman, not as a gambler.
MyCryptoParadise
iFeel the success🌴
💎Price has now closed above the descending resistance, confirming the breakout of the falling wedge structure. The 0.7300–0.7450 zone is currently acting as the first area of support. This level needs to hold in order to maintain bullish momentum, or the entire setup could be invalidated. Below that, the major demand zone between 0.6700 and 0.7100 remains critical if #Cardano slips into that range, we’ll be watching for either a bounce or signs of a deeper breakdown.
💎On the upside, the first short-term target sits at 0.8600 where minor resistance is expected, but the real battle will take place between 0.9300 and 0.9500 a strong resistance zone where many traders will be looking to take profits or re-enter shorts. Momentum indicators are showing early strength, with RSI recovering and confirming renewed buyer interest.
💎If bulls can maintain control above the breakout zone, #ADA could enter a healthy consolidation phase before launching into the next leg up. However, a drop below 0.6600 would completely invalidate the current structure and shift the bias back to the downside so risk management remains essential here.
🎖Strive for consistency, not quick profits. Treat the market as a businessman, not as a gambler.
MyCryptoParadise
iFeel the success🌴
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✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
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.
Want to trade like a PRO without the 15+ year learning curve?
🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
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.