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Concerning the recent new year’s recovery, the Prețul monedei Cardano shows a V-shaped recovery in the daily time frame chart. In theory, this recovery describes a rapid and strong rebound in its bullish momentum following a sharp decline. However, amid this recovery, the coin chart revealed the formation of a rising wedge pattern.
Puncte cheie:
- In core concept, this rising wedge pattern is considered bearish because it signals a potential reversal in the current uptrend and a shift towards a downtrend.
- A breakdown below the pattern’s support trendline could trigger a direction downfall.
- Volumul de tranzacționare intraday în moneda ADA este de 275.4 miliarde USD, ceea ce indică un câștig de 24%.
Sursă- Tradingview
A creșterea modelului de pană is a charting pattern that is formed when the price of an asset rises along with two converging trend lines. The upper trend line connects a series of higher highs and the lower trend line connects a series of higher lows.
The Cardano coin price continues to wobble inside the aforementioned pattern but shows weakness in the uptrend as each successive swing high is struggling to reach a considerable height. By the press time, the coin price trades at $0.4 but if the selling pressure increases it is likely to break the lower support trendline.
This breakdown will intensify the bearish momentum and trigger a minor correction phase. Anyhow, this pullback is needed as the Cardano coin price has not taken a sufficient break since the new recovery cycle began.
Citeste si: LISTA DE CANALE CRYPTO TELEGRAM 2023
This potential downfall could tumble the price 20% down to reach the $0.345 support. However, some in-between supports that may resume the prevailing bullish recovery a bit earlier are $0.378 and $0.3545.
On a contrary note, the ongoing bullish rally will continue until the wedge pattern is intact.
Indicatorul tehnic.
Indicele puterii relative: concerning the rising price action, the falling Panta RSI indicates weakness in bullish momentum. This bearish divergence supports the above-mentioned pullback theory.
EMA: the 50-and-100-day EMA nearing a bullish crossover could extend the ongoing bull run for a few more trading sessions.
Cardano Coin Preț Niveluri intrazi
- Preț spot: 0.4 USD
- Tendință: urs
- Volatilitate: medie
- Nivel de rezistență - 0.426 USD și 0.465 USD
- Nivel de suport - 0.378 USD și 0.3545 USD.
Conținutul prezentat poate include opinia personală a autorului și este supus condițiilor pieței. Faceți cercetările de piață înainte de a investi în criptomonede. Autorul sau publicația nu își asumă nicio responsabilitate pentru pierderea dvs. financiară personală.
Source: https://coingape.com/markets/new-bearish-pattern-in-cardano-coin-foretells-20-drop/