(ADA) CARDANO ON THE ROAD TO 5$

Hello everyone !


Today the Black Cat Trader is analyzing ADA on a weekly chart. 


What we can see :


* Using Ichimoku : ADA is showing us the perfect bullish configuration with Ichimoku. Prices are over the Kumo (cloud), the Kijun and the Tenkan, and the Lagging Span is above the prices. This is the configuration you want to see in a bull market.

* Using the Pitchfork : (Low 0,018 / High 0,15 / Low 0,075 ) we can see that the median line provides a strong support to ADA for the continuation of the movement.

* Using the Trend based-fib extension : we have a convergence of the fib levels at 4,71 / 4,95 $


What we can expect :


If prices manage to hold their several supports (median line of the pitchfork, Tenkan /Kijun / EMA21, then we can clearly target at minimum the 1,618 fib level.


Resistance 1 : Intermediary upper line and upper line of the pitchfork
Resistance 2 : Previous ATH (3.08$)

Support 1 : Tenkan
Support 2 : Kijun / Median line of the pitchfork / EMA21

TP1 : 1.618 (4,95 $)  
TP2 : 2.618 (7,40 $)
TP3 : 3.618 (9,85 $)


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