Cardano (ADA) is holding key support at the $2 level. If ADA can hold this level for the next few weeks, we could see an upward move and break-out from the symmetrical triangle showcased in the TA. The pink upward sloping line is strong long-term support and should provide a "lift-off" platform when we meet it in the early weeks of Dec (6th-9th). Should we have a dip before, it will provide support at the $1.75 level.
*Note we could have a breakout before the first week of Dec. Traditionally these patterns breakout 70% of the way through the triangle.
There are some resistance zones to break (green lines) as we make the move to the upside, with the final target for this break-out move set just below the $4 mark. This breakout move could play out over Jan/Feb.
*Note this move will also depend on the movements of Bitcoin (BTC)
*Note we could have a breakout before the first week of Dec. Traditionally these patterns breakout 70% of the way through the triangle.
There are some resistance zones to break (green lines) as we make the move to the upside, with the final target for this break-out move set just below the $4 mark. This breakout move could play out over Jan/Feb.
*Note this move will also depend on the movements of Bitcoin (BTC)
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.