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Ada | Cardano Heatmap based on Price, Support and resistanceFirst of all, you can find the areas used in the analysis chart by looking at the chart below. My thought for the current situation is that it enters the green area and tries to create a support area for itself there. (3 Candle rule) . The green circle can be considered as the necessary safe zone for the trend. The green ring below the green circle is the last support zone for the Trend. A breakout of this zone may suggest that the trend is over. Gann Boxes and Big green circles are designed in a way that I think will work as a trend timeframe. As long as these circles placed in the Fibonacci channel are in harmony with the Fibonacci levels, there is no problem. If prices fail to enter that green circle and the yellow and green waves break respectively, the orange fibonacci ring will act as support. If the trend continues up as we predicted, this time these yellow and green rings will work as resistance. Crossing the rectangular yellow area, i.e. going beyond the radius of the green circle, will confirm the trend even if prices haven't risen much. Note: This is not investment advice.
Long
by CryptoBrainn
ADA explosion comingIf you are not in this baby...madness. In few days cardano is going to explode and reach 4.1 at least. it has succesfully break out the ATH and has held amazingly well above it. Now the 50 VWMA is approaching the prize to create support and also extreme volatility. ADA also painted a pennant which is slowly reaching an end. The target was taken by measuring the pole of the pennant and also depth of the cup. also the last time the stoch rsi on the daily was this oversold was at the bottom of this last correction. The BB bands are narrowing, squeezing the price forecasting high volatility in the short term. The volume increased on the ATH break out to then dry up while creating the pattern, this suggest a profit taking for the last 2 weeks. Now ADA is ready to push. Be ready guys is gonna be a fun ride. This is a follow up from the previous post on ADA. FOLLOW ME, SHARE, LIKE AND COMMENT.
BINANCE:ADAUSDLong
by CFcryptoTA
2
ADA Renews Journey Above $3 While $3.5 Comes To Sight Cardano seems to be joining Ethereum in the altcoin-led weekly bull cycle. Cardano embraces price discovery above $3 while massively support between $2.81 and $2.8e, as the IOMAP reveals. Cardano is up nearly 9% and has reclaimed ground above $3. The token is the first among major cryptocurrencies to hit a new all-time high. ADA is on a path to hitting another milestone at $3.5, while investors believe that it is just a matter of time before it rises to $5. Cardano Once Again In Price Discovery Mode According to IntoTheBlock’s IOMAP on-chain metric, the newest smart contracts token is back in price discovery after testing support at $ in August. All the addresses that previously bought ADA are in profit. At the same time, Cardano has no defined resistance as it advances. Hence, a slight push above $3 will quickly bolster the token toward $3.5. On the downside, ADA sits on top of immense support areas, as observed by the on-chain metric. The region running from $2.81 to $2.84 is the most substantial buyer concentration zone, hosting around 94,300 addresses that scooped up 3.42 billion ADA. This support assures investors that ADA is well supported and the least resistance path is upward. In the meantime, Cardano is seeking support above $3 to enhance the bulls’ presence in the market. A real break above this area of interest will set ADA on a $3.5-bound journey. Notice the Relative Strength Index (RSI) gaining traction into the overbought territory. A break above 70 may trigger more buy orders as bulls tighten their grip around the price. The Moving Average Convergence Divergence (MACD) adds credence to the bullish outlook based on its position relative to the mean line. A sell signal that had come into the picture is in the process of being canceled. As soon as the 12-day EMA crosses above the 26-day EMA, the odds for another swing north will come into the picture. Besides $3, Cardano is kept in place by an ascending trend line since the beginning of August.
BINANCE:ADAUSDLong
by CoinGape
1