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Cardano(ADABTC): Three crucial info to keep in mind

The 4hr tf of Cardano (ADABTC) is shown in this analysis and the numbers indicated on the chart are discussed below:

Cardano ada review, Cardano technical analysis

(1) Bearish trendline on the 4hr tf that is established between May 13, 2018 and July 18, 2018. The last pivot used in drawing this bearish trendline i.e. ~0.00002612 is also the same pivot used in connecting a bullish price channel for Cardano (ADABTC) that is discussed in (3) below.

(2) The region between 0.00003070 and 0.00002912 where resistance is anticipated should where Cardano (ADABTC) continue its bullish momentum. Entry into a long position that is not confirmed by momentum if  and when Cardano reaches resistance as indicated  could result in a potential downside.

(3) Bullish price channel in Cardano (ADABTC) that is established since July 2, 2018. The lower and upper line of the channel both have a minimum of two pivots each, which means that the channel is indeed valid. Besides, both lines have been extrapolated with the upper line especially coinciding with resistance as described in (2) above.

Another beneficial use of the channel is in projection of the price level to take profit if the risk/reward ratio on the trade is satisfactory and price moves above the upper line (i.e. 0.00003070) of the resistance area.

Interested in Tron (TRX)? Check out the free analysis here. Besides, price analysis of Verge (XVGBTC) can be found here.

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2 thoughts on “Cardano(ADABTC): Three crucial info to keep in mind

  1. […] in Cardano (ADABTC)? Check out the free analysis here. Besides, price analysis of Verge (XVGBTC) can be […]

  2. […] post for Cardano (ADABTC) based on its 4hr timeframe can be found here. One of the chart patterns presented in the previous analysis was the bullish channel that captured […]

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