Cardano | Weekly Timeframe

13 בפבר׳ 2022

For Cardano (ADAUSD), we are going to use the weekly timeframe to avoid all the noise.

Here:

We have many bearish signals within a bearish trend.

There is a scenario where the big ones fall while the smaller ones grow (altcoins)... We will see.

Now, looking at the main chart, notice the volume.
We see low/declining volume, this happens before a strong move.

After a new high, it is normal to have a correction so we can expect prices to drop... That's what we see by looking at the chart.

Conditions for change
It can change. If you see a big green candle, high volume, that pushes prices above $1.426 or EMA50, then you can say that the bulls are back in the game.

If things continue as they are now, expect to visit soon the next support; that's lower.

Namaste.