We constantly hit the price targets with our previous Cardano (ADA) analyses. What do we think about it today?
Cardano Price Forecast – 26% up from the correction targets!
Indeed the Cardano price fell down exactly to the golden ratio at ±$0.105, only to viciously rebound by 26% and rise to the 0.382 Fib level at ±$0.13, where Cardano was met with bearish rejection. Following this rejection, the Cardano price was unable to hold the golden ratio support at ±$0.105, which led the price to drop to the lower end of the horizontal support between $0.09 – $0.115. Currently the Cardano price finds support at the 200-Daily-EMA at $0.089.
The RSI is touching oversold regions, while the MACD histogram is ticking higher. The Cardano price could soon undertake an upward correction wave should the 200-Daily-EMA hold as support.
The golden ratio at ±$0.105 now acts as weak resistance. Additionally, Cardano hits resistance at the 0.382 Fib level at ±$0,13!
Cardano Price Forecast – The price action is going perfectly according to plan!
Otherwise the Cardano price movement is going perfectly according to plan. The price fell back to the lower end of the horizontal support, after the Cardano price was rejected at the 0.382 Fib level at ±$0.16. Since the MACD lines crossed bearishly at first, and the histogram currently ticks bearishly lower, the current support might fail. Then the Cardano price could fall back to the golden ratio support at ±$0.055, or possibly earlier support at the 0.382 Fib level at ±$0.078.
Cardano Price Forecast – Will the horizontal support hold?
The Cardano price is still within the horizontal support in the monthly chart. Should it hold, Cardano could soon resume its uptrend!
Cardano Price Forecast – Golden ratio support in sight!
The MACD lines just crossed bearishly against Bitcoin, while the histogram bearishly ticks lower. Now the Cardano price finds itself at the golden ratio at ±0.0000085 BTC, where the 50-Weeks-EMA acts as additional support. The Cardano price could now strongly bounce up from this level, to rise up to the 0.382 Fib resistance at ±0.00001134 BTC!
Best Regards and successful trades