In this report, dated November 21, 2021, we have prepared the technical analysis of Cardano (ADA), which was performed by the famous analysts of Cryptocurrency community, and we will share it you.
Recently , Bitcoin is being traded in the range of 57.5 to 59.8 thousand dollars, Cardano is being traded today in the range of 1.86 to 1.95 dollars, a decrease of 2.6% compared to yesterday.
What We Should Expect From ADA In This Alt Season
At first wank take your look at support line, price made 3 re-low and this is reverse signals, at least local.
BTC now show us recovery and alts (AltCoins) also follow it.
I expect that when BTC will recovery ADA also will not stand aside and will show us grow.
I also want take a look you on resistance level , price bounced from this level more than 5 times, this is strong resistance.
From 1st time I think ada cant broke this resistance, ada will rise up and create some accumulation ( bullish pattern ).
For example its can be triangle as I draw in a chart.
After this we have 2 targets, first is resistance level at 2.80 and second is previous ATH at 3.10
After price will break ATH we can go even higher to 3.50-4.00-4.50 or even 5 USD per token.
So im in and waiting for grow.
“Review by AtlasTrades”
ADAUSDT: A Type Of Channel! Another Good Chance To Buy
Price is moving inside a type of channel pattern.
As we can see on a lower time frame the price completed also a small “Inverse Head & Shoulders” Pattern
that adds value to this analysis.
If we will see the price breaking above 2.27 or the upper resistance line of the pattern we may see it moving higher up to $2.7
2.27 or +19.4%
2.70 or +42%
“Review by KlejdiCuni”
Neutral volumes for ADA
The market is showing neutral volumes for ADA today.
There are two resistance areas on the way up and two support levels helping to keep the price up.
We might see more consolidations in this area before moving up or down.
“Review by ShawnMCR”
Cardano status and Conclusion
You did read about 3 analysts point of view, almost all of them was at the same idea they say it might grow! But remember this, technical analysis is not enough you have to check the news too, you have to check the leader coin(Bitcoin), Then you can clearly see what will happen next.
Thank you for your time! if you have any idea about ADA you can comment down below.
Disclaimer: None of these Analysis is not Buy or Sell ADA recommendation, And this article is just for educational purposes so please just use this article for validating your own technical analysis.
The cardano is really a good coin but I think developing team is not working enough compared to other blockchain projects.