This week, Cardano saw a major attempt to break above the descending triangle but was swiftly rejected at the resistance at $2.1. The price was then pushed back to the support level just above $1.9.
In the next few days, ADA seems likely to continue to bounce between these two key levels before a resolution is reached and it breaks above the triangle.
Because of this price action, ADA’s indicators are looking rather flat on most timeframes, but we have some early signs it can turn bullish, stay tuned.
Profits are made in trending markets, so wait for a break. When there is no trend in the market, trying to force one can lead to significant losses.
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In the next few days, ADA seems likely to continue to bounce between these two key levels before a resolution is reached and it breaks above the triangle.
Because of this price action, ADA’s indicators are looking rather flat on most timeframes, but we have some early signs it can turn bullish, stay tuned.
Profits are made in trending markets, so wait for a break. When there is no trend in the market, trying to force one can lead to significant losses.
Like and follow if you liked my idea!
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