Cardano - ADAUSDT BEST BUY ZONE for long term

24 Jun 2022

Hi Traders

Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year.

Across the markets, we see many coins on major support zone and trading by their yearly lows.

On the Cardano chart, we unfortunately don't see much buying pressure show up at support zone of 40c. This could indicate range trading for a while. Technical indicator Phoenix ascending is showing us that range trading between the support and resistance zone is most likely for the short term.

Bollinger Bands for the immediate term, in the 4h timeframe, are showing us that the turquoise upper BBand is the local resistance zone :


Here is the Cardano idea as an image, with Fibonacci Retracement :



What are your thoughts on Cardano ?


_________________

👀 Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎
👍Hit like & Follow 🔔


We thank you for your support !
CryptoCheck