Cardano finally broke out of a large deciding wedge in the second half of September. It rose from 1000 to almost 1400 satoshi before correcting.

ADA has managed to maintain much the gains it made. It now seems to be consolidating within a wedge, creating higher lows and lower highs. As price gets squeezed tighter and tighter, we start to look for a breakout.

The daily chart reveals the 8, 21 and 55 day EMA, as well as the 50 day MA, all converging. The Bollinger bands are bottlenecking. This all suggests a larger move to come.

In today’s video analysis, I discuss where price may go from here, where I would place my buy/sell orders and MUCH more. I hope you find it helpful.

Video Analysis:

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!

Workin

Disclaimer: I am NOT a financial advisor and this is NOT financial advice. Please always do your own research before investing. 

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Responses

      1. Indigo Ocean

        That is exactly what my reservation has been. But recently they made some IRL progress, so I decided to buy some at .08 and now .07. Ignored it at .05 but don’t mind, because it wasn’t convincing me they were going to pull it off. Now there is also a lite wallet based in the browser, which also takes away the huge barrier to entry of a full day’s sync time for the full wallet.

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  1. CryptosDecrypted

    Thanks, for the quality TA@workin2005. Looking at charts now. Bad BTC, bad! Nonetheless, I’ve placed buy orders on ADA from 10k sats and would buy more all to way to 2k sats. I agree that ADA may not deliver long-term but this is a great momentum play imo. It could really run 5x from here in a matter of weeks as it rolls out developments and retail view it as ‘cheap’. Similar to EOS run.

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