Cardano Moving Average cross
Hey trader!
This analysis is based on a bullish development for Cardano. The analysis uses the EMA Moving Average which indicates that the 50 day moving average (orange line) has just hit the price indicating a current good buying opportunity for Cardano now. With some support levels at 0.2437, 0.3292, & 0.3637 providing a good safety net where price can potentially pick up support. In addition, the fibonacci indicates that the price can reach the new target at 0.4997 which will give a nice return of 23.93%.
I hope this analysis was instructive and that it can be taken into account in future considerations about Cardano.
This analysis is based on a bullish development for Cardano. The analysis uses the EMA Moving Average which indicates that the 50 day moving average (orange line) has just hit the price indicating a current good buying opportunity for Cardano now. With some support levels at 0.2437, 0.3292, & 0.3637 providing a good safety net where price can potentially pick up support. In addition, the fibonacci indicates that the price can reach the new target at 0.4997 which will give a nice return of 23.93%.
I hope this analysis was instructive and that it can be taken into account in future considerations about Cardano.
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.