Cardano can rise 83%
Here we have a set up for ADA.
The falling wedge bottoms out at the strong support of $1 so we can use a small stop, in case of a stop hunt, we can reenter without losing too much, (you can just make the stop larger if you prefer)
There is a possibility that this pattern is a descending triangle, rather than a descending wedge, in that case the outlook is bearish (another good reason for a small stop)
Target is at the 1.618 and the 1.782 fib extension, it's worth noting that there is a strong confluence of the 2.618 fib extension and the 1.68 fib at the 2.33 region.
The falling wedge bottoms out at the strong support of $1 so we can use a small stop, in case of a stop hunt, we can reenter without losing too much, (you can just make the stop larger if you prefer)
There is a possibility that this pattern is a descending triangle, rather than a descending wedge, in that case the outlook is bearish (another good reason for a small stop)
Target is at the 1.618 and the 1.782 fib extension, it's worth noting that there is a strong confluence of the 2.618 fib extension and the 1.68 fib at the 2.33 region.
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