CARDANO 1D Golden Cross pushing for Resistance breakout to $1.40

18 בנוב׳

Last time we looked at Cardano (ADAUSD) was on September 24 (see chart below), when we called for the strongest buy signal in a year:

It couldn't have been more timely as we went from a 0.3690 price to 0.8200, a +120% rise. This High is also testing the March 14 2024 High, currently Resistance 2. The market just formed a 1D Golden Cross and last time it had one was exactly 1 year ago (November 18 2023). Soon after Resistance 2 broke and the price reached a little above the 2.0 Fibonacci extension. Even the 1D RSI is on a similar fractal.

As a result, once ADA closes a 1D candle above Resistance 2, we will target $1.400 (Fibonacci 2.0 extension).

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