Cardano is one the coins which did grow significantly in past month because of the good news on fundamentals.
The blue line is the dynamic resistance, which Bulls tried to break above few times and the last two times the retests were unsuccessful, showing us bears are getting in and many of those who bought lower are taking profits.
What I expect is consolidation in the areas between the three red boxes, and if market and especially BTC continues upside, Cardano will pass the resistances after testing lower supports. Only if it can break above the top red box with confirmed retest, it might be able to get into 3 dollar channel again.
This is my personal opinion and please do your own analysis before taking any position and enter any position only after assuming you as the responsible person.
The blue line is the dynamic resistance, which Bulls tried to break above few times and the last two times the retests were unsuccessful, showing us bears are getting in and many of those who bought lower are taking profits.
What I expect is consolidation in the areas between the three red boxes, and if market and especially BTC continues upside, Cardano will pass the resistances after testing lower supports. Only if it can break above the top red box with confirmed retest, it might be able to get into 3 dollar channel again.
This is my personal opinion and please do your own analysis before taking any position and enter any position only after assuming you as the responsible person.