Cardano (ADA) | Fasten Your Seatbelts We Are About To Cross Bearish Cloud To Reach $5 Destination

Cardano (ADA) | Fasten Your Seatbelts We Are About To Cross Bearish Cloud To Reach $5 Destination

By moon333 | moon333 | 21 Jan 2021


EMAs on the monthly chart.

Even though the price action of Cardano has rallied more than 1800%, but if we switch to the monthly chart, then it can be observed that the priceline has just broken out the resistance of EMA 10 and 21.

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EMAs on the weekly chart:

On the weekly chart, the price action broke down the EMAs 10 and 21 but again it has moved above these exponential moving averages.

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SMAs on the weekly chart:

On the weekly chart, the price action of ADA has broken out the 50 and 100 simple moving averages and now breaking out the 25 SMA resistance level.

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Ichimoku cloud:

Now if we turn to the ADA with the Bitcoin market, then the price action of Cardano is likely to break out the Ichimoku cloud resistance on the long-term weekly chart.

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Conclusion:

The priceline has rallied more than 1800% so far, but this is just a beginning and the ADA can cross up the previous highest price ever very easily.

 

 

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moon333
moon333

Hi, My name is Atif Akbar and I am trading charts author of all kind of assets


moon333
moon333

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