Cardano
$0.02988 0.98%
ADA · 9w

Cardano (ADA) Technical Analysis: BIG Bullish Signals on The ADA/BTC Chart, Must See

Cardano (ADA) Technical Analysis: BIG Bullish Signals on The ADA/BTC Chart, Must See Nothing in this article is to be construed as investment advice. Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses incurred as a result of this information.

Cardano (ADA) could be about to go ballistic over Q4 according to a number of highly promising bullish signals that have recently appeared on the ADA/BTC chart. Right now the asset has already started to pull away from the rest of the top 10 with a 4.41% gain against BTC, with a marked increase in trading volume today hailing largely from South Korea.

This new Asian trading support is likely the result of a recent Cardano roadmap announcement which detailed that its partnership with market maker, Metaps Plus, is expected to go live next month. This strategic deal will allow South Korean citizens to purchase items with ADA in over 33,000 stores, using new ADA prepaid plastic cards that the team released last week.

Diving into the 1D ADA/BTC chart we can see two big signals that suggest ADA is likely to undergo a strong bullish reversal soon;

On the Ichimoku indicator we can see candles are starting to interact with the resisting kumo for the first time since April, as the asset begins to accumulate along the 1,225 Sats support. ADA was able to surge 78% after it successfully broke through the resisting kumo before and this is something we will be watching for to happen again. This signal also accompanied by a bullish T/K crossover which is another good confirmation that buying momentum is outweighing selling pressure. However, bulls will need to wait until ADA closes above the resisting kumo to confirm a bullish reversal. On the MACD indicator we can see a similar story. Both the 12MA and 26MA (blue and red respectively) have not passed above the signal line since the strong April uptrend and has spent the last four months stuck bene...
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