Cardano Short-Term Targets Mapped

9 lug 2022

We are looking at Cardano (ADAUSD) short-term to find out the next resistance levels.

We can see an ascending channel with prices already trading above MA200 while conquering EMA300.

The first target short-term is set at 0.5000 or ~6.5% from the current price.

The second target is set at 0.05400 or 15% away from the current price.

You can find these targets on the chart.

Support/stop-loss can be set below 0.4581 which is equivalent to MA200 (around 2.35% risk).

A stronger stop-loss can be used around 0.4438, which is the 5th of July's low.

Bitcoin continues bullish and Cardano follows Bitcoin.

The charts are always changing...

Remember to plan before trading.

Thanks a lot for your continued support.

Namaste.