The price of Cardano has formed a rising wedge pattern on the 4h time frame which has bias to break to the downside.
The break to the downside is expected to reach $1.45 - $1.50 resulting in almost a 20% drop.
MACD shows signs of exhaustion as the buying wave now lasts for 3 days, a corrective one is expected.
RSI failed to hold above 60, meaning bullish presence is not active.
Good luck!
The break to the downside is expected to reach $1.45 - $1.50 resulting in almost a 20% drop.
MACD shows signs of exhaustion as the buying wave now lasts for 3 days, a corrective one is expected.
RSI failed to hold above 60, meaning bullish presence is not active.
Good luck!
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Related publications
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.