ADAUSD - Cardano 3D breakout targets
Keeping a very close eye on Cardano right now.. a breakout of the bull flag seems eminent. Fibonacci resistance at $1.39-$1.40 is still pretty strong, so this may take a day or two, but the momentum to the upside is proving resilient.
The ichimoku cloud and both 20d and 50d SMA are providing support for the price, and bollinger bands are breaking out of a narrow channel on good volume.
A break above the upper boundary line is the initial point to watch, with confirmation coming on a retest of the upper boundary followed by continuation of the upward trend.
The pattern will be invalidated if either the breakout does not occur, or the retest of the upper boundary fails to provide support, allowing price to move back inside the triangle.
The ichimoku cloud and both 20d and 50d SMA are providing support for the price, and bollinger bands are breaking out of a narrow channel on good volume.
A break above the upper boundary line is the initial point to watch, with confirmation coming on a retest of the upper boundary followed by continuation of the upward trend.
The pattern will be invalidated if either the breakout does not occur, or the retest of the upper boundary fails to provide support, allowing price to move back inside the triangle.
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