The recent bullish action in Cardano (ADABTC) from ~0.00002389 on March 21, 2018 till present date is captured in this analysis using a price channel. Price move upwards thus appears limited as shown by the upward red arrow as the upper target of the channel is ~ 0.00004324.
Any consideration of a long position (i.e. buy) would require patience for Cardano (ADABTC) to successfully test the bottom of its channel which in this case is ~0.00003617.
A slight break below the channel should meet with Support 1 (i.e. between 0.00003547 and 0.00003380) or Support 2 (i.e. 0.00003088 and 0.00002953) as shown in the chart. A break below support 2 could result in price of Cardano (ADABTC) further declining.
Alternatively, a breakout above the upper line of the channel followed by a consolidation in price = more upside momentum for Cardano (ADABTC).
Any consideration of a long position (i.e. buy) would require patience for Cardano (ADABTC) to successfully test the bottom of its channel which in this case is ~0.00003617.
A slight break below the channel should meet with Support 1 (i.e. between 0.00003547 and 0.00003380) or Support 2 (i.e. 0.00003088 and 0.00002953) as shown in the chart. A break below support 2 could result in price of Cardano (ADABTC) further declining.
Alternatively, a breakout above the upper line of the channel followed by a consolidation in price = more upside momentum for Cardano (ADABTC).
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.