tcr_thecoinrepublic

Cardano Breaks Out Of Crucial Pattern And Will Target 20% Up

Long
BITTREX:ADAUSD   Cardano
The weekly technical chart of Cardano highlights a positive trend built by the coin. A sudden spike in price movements can be seen from Jan 3. A bullish Pennant pattern is formed on Tuesday's trading session. ADA successfully broke out of that pattern for an up move with the resistance zones placed at R1 $0.1881, R2 $0.19716, R3 $0.2115 and the following support zone of $0.1608.

The Supertrend indicator indicates a buying signal on Jan 3. Until now, the trend remains Bullish.

The Moving Average Convergence Divergence (MACD) is very close to the signal line indicating a buying signal can be formed soon in the coin. The histogram will also start to form green bars after the crossover.

Meanwhile, the Relative Strength Index (RSI) with a value of 65 indicates that the coin is in an uptrend and should move soon to the overbought zone.

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.