Cardano ADA Bullish wedge or down trend channel

30 thg 4, 2019

As all the alts have been doing past weeks, getting dumped big time towards levels from before the pump a month ago. It looks like ADA has reached a legit support zone as we can see on the left. The shape we have been moving in the past week also looks like a wedge. Not really fond of it's shape, but the volume picture is at least one of a wedge. With a wedge, normally we don't want to see it reach the max of wedge, meaning the point of the pattern, but rather see it break up around 75% of it. Which we are at now. So far it's moving up a little bit, but usually when a move up starts to break out, should be a big faster.

Anyway, if that wedge breaks, a volume increase is very important. If we don't see that happen, it will probably not be able to break up above those 2 red resistance zones. I think if the break up doesn't happen withing the next 24 hours, it will become more likely to see it fail.

So if we do see a good volume breakout up, than we should be able to reach the 0.08ish.



Previous analysis:

1 thg 5, 2019

Ghi chú

It pierced through the first resistance which is good. Got some rejection now which is not great but not anything to be worried about yet. A pull back should not get below the green supports. If we can see the blue resistance break, chances increase for a move to the red zone around 0.08

1 thg 5, 2019

Ghi chú