From my previous post
@tawadak24/cardano-ada-price-projection-3
or
@tawadak24/cardano-ada-price-projection-3
As you can see the Cardano (ADA) price is moving at the support area.
It just need a confirmation daily candle to make a breakout from the support area to make a bearish run.
But then, yesterdays chart, one daily candle have formed (as shown in red box below) to do a "Morning star" pattern. This is a reversal candle stick pattern.
Does this means that the Cardano (ADA) price will goes up? Before we make that conclusion, we have to look some other element such as support and resistance area, the trend etc.
As for this chart above the "Morning Star" pattern formed on this support area, this means that the probability for this Cardano (ADA) price will goes up is higher.
This support area have been "tested" buy the price for at least 3 times for the whole months. There for the higher chances for the price to go up.
Another thing to consider is the current trend or the market is still considered as an uptrend market. So it is safer for a trader to buy and follows the market trend, as we all know, trend is your friend.
But for now, my advise you to is just observe the Cardano (ADA) market, because the market is still on its consolidation range.
If you guys buying at this price range, just make it out around the resistance area, or if you confident enough, hold until it breaks out ( which we know it will but not sure when xD).
We will see on the 29th April Cardano Africa Special announcement to get the confirmation of this current market state, will it be strong bull run and reaches the 2USD price? or will it continue to consolidate until the smart contract is implemented.
DISCLAIMER:
I'm not a certified financial planner/advisor nor a certified financial analyst nor an economist nor a CPA nor an accountant nor a lawyer. The contents on this site are for informational purposes only and does not constitute financial, accounting, or legal advice.
P/S for those hodling Cardano (ADA). May the force be with us! XD
Cheers everyone! Have a good evening.