Cardano (ADA) Technical Analysis: PREPARING FOR A BREAKOUT?
Cardano finally broke out of a large deciding wedge in the second half of September. It rose from 1000 to almost 1400 satoshi before correcting.
ADA has managed to maintain much the gains it made. It now seems to be consolidating within a wedge, creating higher lows and lower highs. As price gets squeezed tighter and tighter, we start to look for a breakout.
The daily chart reveals the 8, 21 and 55 day EMA, as well as the 50 day MA, all converging. The Bollinger bands are bottlenecking. This all suggests a larger move to come.
In today’s video analysis, I discuss where price may go from here, where I would place my buy/sell orders and MUCH more. I hope you find it helpful.
Video Analysis:
If you don’t see the above video, navigate to TIMM (https://mentormarket.io/profile/@workin2005) or Steemit in order to watch.
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!
Workin
If you found this post informative, please:
Open an Account on Binance here:
https://www.binance.com/?ref=16878853
Support the Crypto Ecosystem with Brave Browser:
https://brave.com/wor485
Twitter handle is @Workin2005 and Facebook is https://www.facebook.com/Workin2005
Published on:
by Workin2005
Nice analysis...it appears bitcoin isn’t the only one cooling up for the breakout.