Adausdanalysis
Short opportunity after Lower High testCardano complied to the Lower High scenario of the Higher resisting trendline (seen in yellow) and made a Higher Low near 0.24000. Now the underlying bearish trend of the 1D Channel Down (RSI = 43.365, ADX = 35.936) will push for a Lower Low and our target is 0.1443. Eventually a test of the 1W support = 0.1217 has to take place.
Clear Channel Down on 4HCardano (ADAUSD) is on a standard 4H Channel Down pattern (RSI 37.879, MACD = -0.010. B/BP = -0.0194) that is now consolidating (Highs/Lows = 0, STOCH = 48.465) the absence of a Lower High. The next Lower Low and our TP is 0.121695, with an extreme extension (based on the previous bearish Fibonacci sequence) at 0.107614. Medium term buyers are advised to start placing long orders strategically between 0.12 and 0.14. Note: there is an extreme scenario for a Higher High on the cross of the 0.256983 Resistance with the Resisting trendline drawn from the 0.389197 Top.