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ADA About to take off!?ADA is looking pretty great trading inside this wedge with having 3 wicks at the top in just the past week, if we don't break through here there is a chance we start to come back down a little but i believe a breakthrough of the wedge is coming. First of all a huge factor for this is continuing to hold above the the pivot point which we have been doing quite well, and doing so will be a trend reversal for us and we will likely gain bullish momentum pretty quick. Looking at the bollinger bands aswell, we are nearing the top band which is always highly bullish, we could see price action grab onto top band and start to go onna bit of run up more than likely right through the top of the wedge! Now finally the RSI is looking great we have broken above the 50. point midline, over the past couple couple months we have really struggled to stay above the midline and we were stuck in a confirmed downtrend, now if we can successfully hold above here we will indeed get a trend reversal and a confirmed uptrend. Not financial advice just my opinion!
KRAKEN:ADAUSD
by JacobR905
ADAUSDTAs you see in the 4hour chart of Cardano. It has broken the channel line and Its about to complete the pullback to the broken line. Also in the previous downtrend according to Elliott wave theory and the RD+ that we can see in the MACD It all demonstrate that the lowest price that ADA touched at about 1.0100 was the end of the 5th wave of Elliott So it means that the downtrend has been over and since ADA has broken the channel line It may reach to 2.1394 as its first target . Dont forget to put the stop loss and In order to see more technical analysis please visit my youtube channel by searching my name: Marjan Sadeghian
by Marjansadeghian