Cardano Price Breaks Down From Ascending Channel, Here Are Two Ways It Could Go
A crypto analyst has confirmed a recent breakdown of the Cardano price from an Ascending Channel pattern. With key support and resistance levels now in focus, the analyst has outlined two scenarios for ADA, projecting where its price could move next. Cardano Price Ascending Channel: Bullish Scenario The Cardano price has been trending within an Ascending Channel for some time, maintaining steady price momentum amidst market volatility. However, a TradingView crypto analyst, known as ‘MelikaTrader94’, has identified a recent change in the Cardano price action. The analyst highlights that....
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There is a 75 percent possibility that Bitcoin breaks bullish out of its ongoing consolidation pattern. According to independent analyst Vince Prince, the benchmark cryptocurrency is making “marginal” upside movements in an Ascending Channel structure. That has left it with two possible outcomes. First, Bitcoin consolidates inside the Channel while breaking below the “Ascending Trendline”; Second, it stays above the Trendline and later breaks out of the range altogether. Mr. Prince favored the second outcome. […]
Bitcoin price is resuming its climb after testing the bottom of the ascending channel visible on the 1-hour chart. Bitcoin Price Key Highlights. Bitcoin price continues to trend higher on its 1-hour time frame, moving on a sharper ascending channel than before. Price just bounced off the channel support and seems to be setting its sights on the resistance around $740-750. Technical indicators are suggesting that further gains are in the cards. Technical Indicators Signals. The 100 SMA is safely above the longer-term 200 SMA on this time frame, confirming that the path of least resistance....
An analyst has explained how Dogecoin could observe a significant rally next if its price can hold the bottom level of this pattern. Dogecoin Is Currently Testing The Lower Bound Of An Ascending Channel In a new post on X, analyst Ali Martinez has discussed about a long-term pattern forming in the weekly price of Dogecoin. The pattern in question is the “Ascending Channel” from technical analysis (TA), which is a type of Parallel Channel. A Parallel Channel is a consolidation pattern in which the price of the asset remains locked between two parallel trendlines. The upper level....
After a relatively solid performance in January — which saw the altcoin reach $290, SOL started February with a deep correction beneath the $200 level. However, the Solana price could be on its way to a new all-time high, as it continues to trade within an ascending channel on a larger timeframe. Here’s How SOL […]
Ascending channels provide a steady signal on the strength of an uptrend and the optimal levels to open positions during a pullback. Traders use various technical analysis tools to identify emerging trends and profitably trade that direction. One popular trend-defining pattern that traders often rely on is called the price channel. An ‘ascending channel’ or a “bullish price channel” is formed by drawing parallel lines between the perceived support and resistance levels that an asset trades between on candlestick charts.Ascending channel basicsAn ascending channel is formed when the price....