ADA At A Crossroads, Will Bullish Fractal Play Out Or Crash?
The post ADA At A Crossroads, Will Bullish Fractal Play Out Or Crash? appeared on BitcoinEthereumNews.com.
Cardano price prediction: ADA flaunts bullish fractal as bulls deal with resistance at $0.38. The IOMAP shows ADA holding above a solid support at $0.37. Published 13 hours ago Cardano Price Prediction: Cardano (ADA) like many other altcoins, is at a critical point that could either lead to immense gains or a deeper correction. The determining factors would range from its technical outlook, community support, and network development. Earlier this month, a Gemini-backed media platform highlighted past, ongoing a future developments in the Cardano ecosystem, including the project’s multi-phase development roadmap. The main objective of this approach has been to transform Cardano into a highly scalable, secure, and decentralized network. Cardano Price Prediction: Are Bulls Ready To Tap The Fractal? Cardano price has been moving on an upward trajectory since October 19 apart from the resistance at $0.4 pricing to be an uphill task for the bulls. This has led to the formation of an elaborate bullish and bearish fractal, where the price is moving up and down in seemingly identical patterns, as illustrated on the chart. Cardano price prediction chart| Tradingview A bullish fractal has the price moving downwards and then upwards, forming a U pattern. In Cardano’s case, bulls have already taken the reins, pushing for a rebound from the short-term support at $0.37 to the current market value of $0.38. The Moving Average Convergence Divergence (MACD) indicator could reinforce the bullish grip by sending a buy signal in the coming sessions. Traders should watch out for the blue MACD line to cross above the red signal line before activating their buy orders, especially if they wish to avoid sudden pullbacks. Although the 50-day Exponential Moving Average (EMA) (red) is capping the uptrend at $0.381, a step above it would bolster investor confidence in the uptrend aiming for…
Filed under: News - @ November 29, 2023 5:26 am