Cardano (ADA): Bullish Channel Formation with Upside Potential

16 ก.พ.

hello guys!

Key Observations:
Strong Impulse Move:
ADA recently experienced a sharp rally, breaking through resistance levels and establishing a new range.

Fake RSI Divergence:
A deceptive bearish RSI divergence was invalidated as the price continued its uptrend, confirming bullish momentum.

Support Holding at Lower Channel:
The price is currently consolidating near the lower boundary of the parallel channel, suggesting a potential bounce.

Next Target:
If the price respects the channel structure, ADA could aim for the 0.90 - 0.94 USD range as the next resistance.

Conclusion:
As long as the lower trendline holds, ADA remains bullish with a high probability of an upward breakout. However, traders should monitor the channel support for potential invalidation. 📈🔥

17 ก.พ.

การซื้อขายยังคงดำเนินอยู่

the price is moving in the direction of the arrow I've drawn!