Possible Inverse Head n Shoulders forming on Cardano.
That said, remember we have Sundaeswap DEX and Liqwid Finance DefI being released very soon, which should help ADA price rise.
The 200 EMA is a strong support line at the moment.
The risk / reward here is good for a LONG.
Put your stoploss (10% loss from your entry) under the 200 EMA.
If it breaks below 200 ema and stays then its time to get out. But This could be a good bounce upwards from here. Especially with the updates coming in September and over the coming months from IOHK...
ADA /USD is at a key area right now. With all the positive news coming from CARDANO recently and the success of Haskell Testnet so far; things look very promising for the future and the rest of this year!
We are looking for ADA to push and close above this UPPER trend line on the Daily. This could happen within the next 24-72 hours.
Which could mean the bottom...
ADA /BTC is at a key area right now. With all the positive news coming from CARDANO recently and the success of Haskell Testnet so far; things look very promising for the future and the rest of this year!
Plus, BTC failed to hold above the 10K resistance again. So we could easily see some profit-taking from BTC over the next few days.
We are looking for ADA to...
ADA (Cardano) is on a good path right now. With Shelley testnet due to be released in June. The chart, to me anyway, seems to be showing a very bullish momentum. If you look at the various Support and Resistance areas and the rising channel plus all the fundamentals coming out this next few weeks/months. Stoploss at $0.0560 or for longterm safety $0.0325. Next...
