Coming off an impressive pump this past week, due to positive sentiment after the smart contract announcement coming in September, ADA is ready to begin price discovery mode.
In our last analysis we broke the falling wedge pattern that had formed and have hit our $2.02 target (marked by the golden dashed line) and managed to go beyond this point before we saw any...
ANKR has finally closed above a key level of resistance on the daily chart. This is most likely a signal that bullish prices are in the future. Only level of resistance left to tackle is the 20 week SMA. Will update this idea as time goes on.
Right now we see Bitcoin's Dominance ratio form a bearish rising wedge pattern that sees a target of the original swing low around 41.20.
This could see a good push for prices in alt coins and a stall of BTCs price action.
Our July Monthly Candle will be close in a little under 6 days. If the crypto market and ANKR specifically can continue the current bullish march and close the month candle above this key Fibonacci level then that will be a signal for a bullish continuation!
Will post updates!
If ADA is able to successfully break the falling wedge resistance we're looking at a huge target at approximately $2.02.
There will definitely be resistance along the way, so I've drawn out the potential scenarios and resistance lines that could impact the price action on the way up.
It appears that Bitcoin has potentially turned a corner and is on its way to creating an up-trend. This has been confirmed by both the falling wedge breakout AND RSI resistance breakout.
Right now the price action has reclaimed the green ascending trend-line and is currently back inside the "soft" resistance zone. If the price can break-through this zone look for...
