empty
 
 
25.10.2021 03:45 PM
Cardano continues to trade sideways.

Cardano continues to move sideways since the middle of September. Price has now formed a tightening triangle formation that implies that soon we should expect a break out. Price is still trading around $2.13.

This image is no longer relevant

Black lines- Triangle pattern

Green lines - Fibonacci retracement

Cardano has resistance at $2.25 and support at $2.06. A break out of this range will provide a trading signal. If bulls are unable to defend $2.06, we should then expect Cardano to fall towards $1.60. If resistance at $2.25 is broken, we should expect price to push higher towards $2.75. I expect volatility to rise and price to make a breakout at the latest around mid November.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback