CARADANO - Quick Analysis: Strong Upward Movement.
ADA has seen a strong uptrend form since breaking out of it's descending channel last week.
We can see the price just bounced off two notable EMA's, 50 & 100, with a bounce two weeks ago off 200. This is a strong sign of strength.
Indicators looking decent, I've noted analysis on the chart.
If ADA continues this trend, I believe it will hit the next fib level within the next couple weeks.
TP @ .12595, SL around 8%-10%. If it breaks the ascending channel we can expect another retest of one of the previous support levels.
This seems unlikely to me as it has shown notable strength for a while now.
--
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We can see the price just bounced off two notable EMA's, 50 & 100, with a bounce two weeks ago off 200. This is a strong sign of strength.
Indicators looking decent, I've noted analysis on the chart.
If ADA continues this trend, I believe it will hit the next fib level within the next couple weeks.
TP @ .12595, SL around 8%-10%. If it breaks the ascending channel we can expect another retest of one of the previous support levels.
This seems unlikely to me as it has shown notable strength for a while now.
--
I'm a guy that you don't know posting his ideas on the internet for the sake of improving as a human being. If you take this as financial advice, that's on you.
If you like my analysis, then leave a like and feel free to follow for more free content. Feedback, criticism and crude humor are welcome :)
Come hang out with me on telegram, it's free and I won't be too mean too mean to you:
t.me/KadnimCrypto
t.me/KadnimCrypto
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