Hello traders, investors and the community! Today I remind you of one of Cardano top assets. Everything fell, including ADA, but ... thanks to this unloading, I see an almost perfect picture on the 4-hour chart, which is on the verge of working off.
Before us is nothing more than the most standard "Bullish Channel" - a reversal pattern, which means it is positive. 2 days ago, after another major fixation, the price again approached the lower border of the channel, while forming a strong bullish divergence, and the stochastic crossed upwards. In connection with these signals, there was a natural rebound upward, and within 2 days there is a dense narrowing of the upper border. In the current situation, I am counting on growth - the only correct decision.
To summarize: since I have been actively drowning longs and market growth for a long time, and my thoughts are periodically justified, then according to ADA I start from a similar side. Technically, this is a powerful bullish setup that cannot be ignored. The first resistance at $1.28 is a highly liquid level ($1.20-1.28), upon reaching which a strong impulse should be expected. The $2 goal I outlined earlier is relevant.
?? Earn money, but do not forget about risk and capital management.
Disclaimer: This article is informative and does not provide information on where to invest. If you are planning to invest, do your own research.
