Cardano
$0.02993 0.28%
ADA · 9w

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:

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

Disclaimer: I am NOT a financial advisor and this is NOT financial advice. Please always do your own research before investing. 

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