No panic but correction
Zaktualizowano
Cardano had a massive triangle with bearish breakout on the 4h chart.
Looks like we had a retest on the red line which is now the resistance, also looks like we won't break through the EMAs in short term of time.
I can not see any bullish signals except of the low RSI.
Also due to Elliott Wave analysis on BTC chart I do not think that the correction has been finished yet, seeing prices of ~41k BTC.
This would also give ADA the opportunity to do a correction down to ~1,80$ - 2,00$ before heading quite fast to new ATHs.
Looks like we had a retest on the red line which is now the resistance, also looks like we won't break through the EMAs in short term of time.
I can not see any bullish signals except of the low RSI.
Also due to Elliott Wave analysis on BTC chart I do not think that the correction has been finished yet, seeing prices of ~41k BTC.
This would also give ADA the opportunity to do a correction down to ~1,80$ - 2,00$ before heading quite fast to new ATHs.
Uwaga
BTW:price target of ~1,80$ would hit the 0.61 Fib perfectly.
The 21 week EMA is currently at ~1,85$ and hitting them is quite healthy for the future of ADA.
Uwaga
Found support at about 2$ but I do not think that was all yet.Possible long entry at ~1,8$
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