ADA/USDT - Bullish Breakout - update!
Hello traders and community, today we will tell ourselves shortly about situation of ADA/USDT
Trend analysis
- As you can see from the ADA/USDT daily chart, we are currently forming bullish breakout (Ellipse on the chart) and bullish W pattern (white line), therefore we can expect possible bullish scenario after a few days later to price level $1.30. Price of Cardano is still struggling with resistance level at the moment (approximately $1.16 price level), but support zone still remain quite strong for allowing ADA to drop lower + global trend of ADA remains bullish enough. As a trader, I recommend to put buy position up to $1.3 price level, only if we see new stable support after breakout will be finished.
Chart pattern
- Bullish W pattern (functioning)
- Bullish Breakout (functioning)
Technical indicators
- RSI: market is still in boarders and not fully overbought (Bull signal)
- MACD: market is still bearish cause of MA lines are moving away from each other and overall trend is going down (Bearish signal)
- BB: Volatility of the market started decreasing after range movement accomplished (Bearish signal)
- MA (10,20): MA10 is above the level of MA20 (Bull signal)
= Neutral movement prevails
Dear friends, please push the like button, write comments below, follow me for more technical analysis and share this post with other traders - that would be the best support, Thank you for your attention!
Tell us about your opinion for making better decisions :)
P.S.: Information provided is only educational and should not be used to take action in the market.
Trend analysis
- As you can see from the ADA/USDT daily chart, we are currently forming bullish breakout (Ellipse on the chart) and bullish W pattern (white line), therefore we can expect possible bullish scenario after a few days later to price level $1.30. Price of Cardano is still struggling with resistance level at the moment (approximately $1.16 price level), but support zone still remain quite strong for allowing ADA to drop lower + global trend of ADA remains bullish enough. As a trader, I recommend to put buy position up to $1.3 price level, only if we see new stable support after breakout will be finished.
Chart pattern
- Bullish W pattern (functioning)
- Bullish Breakout (functioning)
Technical indicators
- RSI: market is still in boarders and not fully overbought (Bull signal)
- MACD: market is still bearish cause of MA lines are moving away from each other and overall trend is going down (Bearish signal)
- BB: Volatility of the market started decreasing after range movement accomplished (Bearish signal)
- MA (10,20): MA10 is above the level of MA20 (Bull signal)
= Neutral movement prevails
Dear friends, please push the like button, write comments below, follow me for more technical analysis and share this post with other traders - that would be the best support, Thank you for your attention!
Tell us about your opinion for making better decisions :)
P.S.: Information provided is only educational and should not be used to take action in the market.
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.