Cardanoלונג
ADAUSD On the verge of a rally
Cardano / ADAUSD is trading over the 1day MA50 in the past 5 days.
The pattern on the 1day time frame is a Triangle, with Support A (0.23500) holding on three different occasions and the next obstacle to overcome being the Falling Resistance (top) of the Triangle.
Right now as long as the MA50 holds, you can target 0.28855 (Fibonacci 0.236).
If the Falling Resistance breaks, you can re-buy and target 0.37500 (Fibonacci 0.618 and previous Lower High).
The 1day RSI has its own Falling Resistance to consider.
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The pattern on the 1day time frame is a Triangle, with Support A (0.23500) holding on three different occasions and the next obstacle to overcome being the Falling Resistance (top) of the Triangle.
Right now as long as the MA50 holds, you can target 0.28855 (Fibonacci 0.236).
If the Falling Resistance breaks, you can re-buy and target 0.37500 (Fibonacci 0.618 and previous Lower High).
The 1day RSI has its own Falling Resistance to consider.
Follow us, like the idea and leave a comment below!!
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