Cardano double bottom

18 thg 7, 2018

ADA has now broken out on good volume of what appears to be a double bottom. Coupled with the Coinbase news this should provide a good entry point for a long. We may bounce off of the yellow resistance area couple of times before advancing further, but as long as we stay above the blue support line it's all good.

(There may also be a bearish divergence on the OBV which would confirm that we'll see a correction before the rally, but it still depends on how we close today.)