Cardano / TetherUSShort
Cardano double top (bearish breakout)
Hey trader!
This analysis is based on a bearish breakout as a result of a double top. As the previous resistance (at 0.5123, 0.4262, & 0.3769 respectively) and support levels(at 0.3398, & 0.2443 respectively) indicate, the current development is taking place in a bear market. Despite the negative development, a bullish double top has formed which, upon breakout, could trigger a bearish trend down to the target at 0.1989 (as assessed by the Fibonacci).
I hope this analysis was instructive and useful for future consideration of Cardano.
This analysis is based on a bearish breakout as a result of a double top. As the previous resistance (at 0.5123, 0.4262, & 0.3769 respectively) and support levels(at 0.3398, & 0.2443 respectively) indicate, the current development is taking place in a bear market. Despite the negative development, a bullish double top has formed which, upon breakout, could trigger a bearish trend down to the target at 0.1989 (as assessed by the Fibonacci).
I hope this analysis was instructive and useful for future consideration of Cardano.
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