Symmetrical triangle , consolidation , possible breakout 2,3$ ->

Hello Traders!

- On 4H Cardano price action has traded sideways over the past weeks. After a strong decline in September, a new major swing low was established at $1.90 on the 21st of September, the following reaction set a swing low at $2.46. Since then, both lower highs and higher lows have been seen ( symmetrical triangle validated), indicating that the market is trading in an increasingly tighter range.

Currently, the support area can be seen at around $2.10, while resistance is strong at around $2.30. Earlier this week, a higher high was set above $2.25 previous local high, indicating that the Cardano price action might be preparing to finally break higher. However, until the $2.30 resistance area is not broken, we likely will see further consolidation next week.

- Overall i am bullish on Cardano expecting bulls to accumulated on the demand zone to push the price higher !

Good Luck, Traders!