Techincal Analysis of Daily Price Movement of Cardano Cryptocurrency, Friday July 07, 2023.
July 7, 2023 5:24 am
On its daily chart of Cardano cryptocurrency there is four of its moving Average wide open downside as well as CCI indicator which manages to break up to the 3 level below and now hold on to its middle level where this shows Bearish condition which is still happening on this Cardano also It can be seen from the price movement after being successfully held in the bearish Fair Value Gap area and forming a Double Top (red “X” mark) now Cardano has managed to break out of the Bearish Continuation Rising Wedge pattern and is now trying to break below the 0.25859 level (Neck Support Double Top) if this level is successfully penetrated, the potential for a downward slide from Cardano will be even greater where the next level to aim for is 0.24435 as the first target and 0.21913 as the second target however this downside scenario will become invalid and cancel itself when the time to go to these targets arrives -suddenly there was a upward rally correction movement that exceeded above the level of 0.29338.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
On its daily chart of Cardano cryptocurrency there is four of its moving Average wide open downside as well as CCI indicator which manages to break up to the 3 level below and now hold on to its middle level where this shows Bearish condition which is still happening on this Cardano also It can be seen from the price movement after being successfully held in the bearish Fair Value Gap area and forming a Double Top (red “X” mark) now Cardano has managed to break out of the Bearish Continuation Rising Wedge pattern and is now trying to break below the 0.25859 level (Neck Support Double Top) if this level is successfully penetrated, the potential for a downward slide from Cardano will be even greater where the next level to aim for is 0.24435 as the first target and 0.21913 as the second target however this downside scenario will become invalid and cancel itself when the time to go to these targets arrives -suddenly there was a upward rally correction movement that exceeded above the level of 0.29338.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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