There are two possible scenarios for Cardano: The first scenario for ADA is an inverse head and shoulders that is almost complete. It just need to break out above the neckline, for the head and shoulders to be confirmed. The volume will tell us when the story begin.
On the chart above you can see that the volume has increased in the same spot I have pointed out the head and shoulders! The volume will increase again when the breakout will occur!
Now, here comes the best part of this analysis.
If the head and shoulders pattern will do its part and completes this ride, then another opportunity will take place with a possible cup and handle pattern. This will give us another strong signal for a big move up!
Another thing to take into consideration, is that we are moving above the 200MA which can be used as a strong support! Use the fib. levels for entry and exit points!
I hope you have enjoyed this idea and please feel free to leave a comment below.
Disclaimer : My posts are never financial/invest advice! For a favorable outcome, make your own research! Never invest more than what you can afford to lose. Don't forget, it's all about positive thinking and patience!
Remember, you should always use a stop loss!