Cardano recently tested the high, hitting 4190 satoshis, where it formed a bearish divergence on the RSI oscillator suggesting a corrective move down. The corrective wave followed and currently ADA/BTC is trading near the 61.8% Fibonacci support which is at 3400 satoshis.
It is yet to be seen whether Cardano will reject this support or break below. However, if the support is broken, price is likely to move lower, towards 88.6% Fibs near 3k satoshis psychological support area. And only break and close below 3000 satoshis could send price back to 2k satoshis.
On the upside, clearly there is strong resistance near 4k satoshis area. But if price will manged to break and close above 4200 satoshis on a daily time-frame, it is very likely that the price will go parabolic resulting in strong gains.
It is yet to be seen whether Cardano will reject this support or break below. However, if the support is broken, price is likely to move lower, towards 88.6% Fibs near 3k satoshis psychological support area. And only break and close below 3000 satoshis could send price back to 2k satoshis.
On the upside, clearly there is strong resistance near 4k satoshis area. But if price will manged to break and close above 4200 satoshis on a daily time-frame, it is very likely that the price will go parabolic resulting in strong gains.
Nota
support holdingNota
support still holdingTrade fechado: objetivo atingido
downside target reached trade closed, uptrend is likely to continue
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.