Looking at the daily chart on Cardano I am seeing price pulling back in the short-term.
Around 10 days ago I was calling bullish on ADAUSD after seeing that support hit at .72 on March 11th.
I mentioned I wanted to see .90 taken out and then that key resistance level of 1.00 which was the most important.
After yesterday's big move above 1.00 and the large rangy candle I see price looking pretty overextended and see this pulling back in the short-term.
It is important though to watch the mid level of yesterdays daily candle, roughly around 1.04. If that mid level breaks then it should drop further but it is possible if finds support at or around that level and rebounds.
Will see how it plays out but it is nice to see most of the cryptos looking pretty strong the last week or so.
Around 10 days ago I was calling bullish on ADAUSD after seeing that support hit at .72 on March 11th.
I mentioned I wanted to see .90 taken out and then that key resistance level of 1.00 which was the most important.
After yesterday's big move above 1.00 and the large rangy candle I see price looking pretty overextended and see this pulling back in the short-term.
It is important though to watch the mid level of yesterdays daily candle, roughly around 1.04. If that mid level breaks then it should drop further but it is possible if finds support at or around that level and rebounds.
Will see how it plays out but it is nice to see most of the cryptos looking pretty strong the last week or so.
Commentaire:
It held the support and looks like 1.20 is the next level of resistance