Cardano (ADA) Technical Analysis: HAS IT HIT BOTTOM?
cryptocurrency·@workin2005·
0.000 HBDCardano (ADA) Technical Analysis: HAS IT HIT BOTTOM?
 ### Cardano has been spiraling down for months. Back in December it reached ATH’s with a very extended 5th wave. Extended fifth’s often lead to a very deep correction...which is exactly what we’ve seen with Cardano. Could the bottom be in?  ### Price just bounced off the top of a very strong support/demand zone between 1,200-1,400 satoshi. It also appears to have just broken out of a bullish looking falling wedge.  ### The 1 day MACD is showing clear bullish divergence. It also just crossed over into bullish territory.   ### Looking at the 4 hour chart, we can see it’s extended just beyond the upper Bollinger band. This suggests a short term pull back may be coming. Price has risen above the 50 day MA, which seems to be acting as support.  ### The 4 hour Stoch RSI is very overbought. This also suggests a temporary pull back is likely.  ### In today’s video analysis, I discuss price movement in the short and longterm, possible entry points and MUCH more. ## Video Analysis: https://youtu.be/tuTWwnQAy0k #### *If you’re viewing this on a site other than Steemit, and you don’t see the above video, navigate to Steemit or TIMM (https://mentormarket.io/profile/@workin2005?aff_id=Workin2005) in order to watch.* ### BIAS: **Short Term: Neutral to Slightly Bullish** **Longterm: Bullish** **I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!** ### *Workin* ## **If you found this post informative, please:**  **If you don’t have an account on Binance, I STRONGLY recommend getting one. They’re usually the first to get reputable coins, have excellent security and second to none customer service. Sign up here free of charge: https://www.binance.com/?ref=16878853** **Brave is one of the safest, ad free browsers ever created. It helps support the crypto ecosystem by awarding content providers with BAT tokens. Join the revolution and download the latest version here, free of charge: https://brave.com/wor485** **Follow me on Twitter (handle is @Workin2005) and Facebook to receive the latest updates. https://www.facebook.com/Workin2005**. **MAKE SURE to check out TIMM (Traders & Investors Mentor Market), a STEEM based platform for traders and investors of all levels. Sign up for a free membership and take advantage of the knowledge shared by many experts and investors. Just click the TIMM logo below:** --- **Published on** <center><a href="https://mentormarket.io/"><img src="https://cdn.steemitimages.com/DQmXuk9bWMiPgXdowVfh4JBSGUXMqQkLa1u7ANwzTssgp25/250%20blue%20Overlay%206.png" alt="mentormarket.io" /></a> by [Workin2005](https://mentormarket.io/profile/@workin2005?aff_id=Workin2005)</center> --- <center><a href="https://mentormarket.io/legal/termsandconditions"><img src="https://cdn.steemitimages.com/DQmY5feG75MDWS57aX2rSUUa8bhzcZEyb5XKZCHY7FUzmXn/Disclaimer.png" alt="https://mentormarket.io/legal/termsandconditions" /></a></center>
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