Cardano has arrived at a decent longing zone.
Reasons :
Resistance = support structure to the left
Daily 100 EMA
886 retracement + 1.272 inversion + 1.272 extension
ABCD completion
RSI massively oversold
Good amount of RSI divergence (flat on RSI but lower lows on chart)
Sell momentum seems like it is dying down now.. I would look for a large bullish reversal candle (either engulfing or a nice green pin) before getting involved in this one.
Please note that this is not trading advice & is purely educational
Trade at your own risk
Reasons :
Resistance = support structure to the left
Daily 100 EMA
886 retracement + 1.272 inversion + 1.272 extension
ABCD completion
RSI massively oversold
Good amount of RSI divergence (flat on RSI but lower lows on chart)
Sell momentum seems like it is dying down now.. I would look for a large bullish reversal candle (either engulfing or a nice green pin) before getting involved in this one.
Please note that this is not trading advice & is purely educational
Trade at your own risk
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Zoomed in look at the RSI divergence
