Cardano has already corrected by over 80% since reaching an all-time high at 9180 satoshis. But now it is facing the support at 1670 satoshis as the uptrend trendline has been rejected cleanly.
On a lower time-frame price broke above the descending channel and then found the support at the upper trendline of the channel. Statistically after the 80% correction cryptocurrencies tend to grow x10 time of average. Taking this in consideration, the next upside target could be as high as 26k satoshis, that is 327.2% Fibonacci retracement level applied to the last corrective wave down.
On a downside, there is not much downside potential for ADA/BTC, of course it could go slightly lower, but the trend reversal is imminent and it is only a matter of time.
On a lower time-frame price broke above the descending channel and then found the support at the upper trendline of the channel. Statistically after the 80% correction cryptocurrencies tend to grow x10 time of average. Taking this in consideration, the next upside target could be as high as 26k satoshis, that is 327.2% Fibonacci retracement level applied to the last corrective wave down.
On a downside, there is not much downside potential for ADA/BTC, of course it could go slightly lower, but the trend reversal is imminent and it is only a matter of time.
Not
So far Cardano moving according to the planNot
Cardano next wave up could be very strong...
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.