CARDANO is one of these Blockchain projects that any crypto investor will have to consider in long terms positions. Specially these days since, after having lost more than 97% of its highest value at ATH, it is presenting a healthy and promising set-up, under the shadow of the BITCOIN rise.Under a pure TA perspective Nowadays, CARDANO presents a very attractive setup for a Bull run, however, uncertainty these days is everywhere and there is no “big announcement” supporting it besides its continuous development constantly going on.
The Elliot-Wave count for the daily looks pretty consistent. ADA seems still working on a (v)th wave upwards, sustained by the 50 Days Moving average and finding some strong resistance 0.09 USD level.However, the volume is great still and the configuration suggests that it may be a breakage of that resistance in very short term.Bullish pattern is also appearing here in a form of Inverted Head and Shoulders which projects the target price, if the resistance is broken, towards the 0.155 USD, which is more than 75%…
As usual, the tactic here for a quick trading is to wait for the breakage to be confirmed and put your entry and a Stop-Loss just below. Get some profits around the target price and consider entries again.
For long term investors, nothing to say but consider that the bottom is IN so I would not hesitate for taking advantage with this one.
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.