Hey trader!
This analysis is based on a bullish development for Cardano. The analysis uses the EMA Moving Average which indicates that the 50 day moving average (orange line) has just hit the price indicating a current good buying opportunity for Cardano now. With some support levels at 0.2437, 0.3292, & 0.3637 providing a good safety net where price can potentially pick up support. In addition, the fibonacci indicates that the price can reach the new target at 0.4997 which will give a nice return of 23.93%.
I hope this analysis was instructive and that it can be taken into account in future considerations about Cardano.
This analysis is based on a bullish development for Cardano. The analysis uses the EMA Moving Average which indicates that the 50 day moving average (orange line) has just hit the price indicating a current good buying opportunity for Cardano now. With some support levels at 0.2437, 0.3292, & 0.3637 providing a good safety net where price can potentially pick up support. In addition, the fibonacci indicates that the price can reach the new target at 0.4997 which will give a nice return of 23.93%.
I hope this analysis was instructive and that it can be taken into account in future considerations about Cardano.