Cardano / TetherUSShort
Cardano restest to 0.3 till next year and create double bottom
Current Price: $0.3637 (as of October 22, 2024)
Pattern: Potential double bottom formation, indicating a possible trend reversal if confirmed.
Key Support:
Major support at $0.305 - $0.311, a critical area to prevent further downside.
Key Resistance:
First resistance at $0.40 (near the descending trendline). A break above this could trigger a bullish move.
Further resistance at $0.65 and $0.78.
Momentum Outlook:
Expected bearish or sideways movement until December 2024.
A possible trend reversal in January 2025 if the double bottom plays out and price breaks above $0.40.
Bearish Risk: Breaking below $0.305 could invalidate the pattern and push prices lower toward $0.20.
Pattern: Potential double bottom formation, indicating a possible trend reversal if confirmed.
Key Support:
Major support at $0.305 - $0.311, a critical area to prevent further downside.
Key Resistance:
First resistance at $0.40 (near the descending trendline). A break above this could trigger a bullish move.
Further resistance at $0.65 and $0.78.
Momentum Outlook:
Expected bearish or sideways movement until December 2024.
A possible trend reversal in January 2025 if the double bottom plays out and price breaks above $0.40.
Bearish Risk: Breaking below $0.305 could invalidate the pattern and push prices lower toward $0.20.
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