Warning: our thoughts are ours; not financial advice.
Cardano is one of our favorites. It's stood the test of time; it survived the bear market.
However, some short-term analyses to ponder upon.
Though in the long term, ADA is bullish. Very bullish. You can't just be bearish on this one. Nevertheless, we could (not of a certainty) see a pullback in the coming days.
ADA just rallied strongly to the top of the channel, we need to either see the strong move throughout today making a close above the channel which will translate to a breakout. If that happens, great news. We should even expect more bullish days ahead.
Alternatively, we could see price scramble back inside the channel at the close of today's' candle. If that happens, well, we may Cardano's price pullback to the midline or the bottom of the channel before resuming its uptrend.
Whatever happens, trade with caution.
Cardano is one of our favorites. It's stood the test of time; it survived the bear market.
However, some short-term analyses to ponder upon.
Though in the long term, ADA is bullish. Very bullish. You can't just be bearish on this one. Nevertheless, we could (not of a certainty) see a pullback in the coming days.
ADA just rallied strongly to the top of the channel, we need to either see the strong move throughout today making a close above the channel which will translate to a breakout. If that happens, great news. We should even expect more bullish days ahead.
Alternatively, we could see price scramble back inside the channel at the close of today's' candle. If that happens, well, we may Cardano's price pullback to the midline or the bottom of the channel before resuming its uptrend.
Whatever happens, trade with caution.