Cardano Falling Wedge Pattern: Analyst Predicts 100% Increase Following Breakout
Cardano may not be a top gainer in the crypto market but that does not mean that it has fallen behind. During the altcoin rally, the price of Cardano’s native coin ADA has gone from a low of $0.25 to a high of almost $0.4 before correcting back downwards. This positive trend has been preserved even through the crypto market dip and it seems that there is only one thing in the way of Cardano’s rise to a new yearly high. Falling Wedge Pattern Holds Back Cardano According to a crypto analyst on the TradingView website, the one thing that is holding back the Cardano price from mounting a....
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ICP price is likely to face strong resistance at its 50-day exponential moving average right under $20. The price of Internet Computer (ICP) reversed directions after falling to its record low near $14.50 on Feb. 24 and has rebounded by more than 30% ever since. And now, it appears the 35th-largest digital asset by market capitalization has more room to grow in the coming weeks.ICP breaks out of 'falling wedge'ICP's daily chart shows a falling wedge pattern — a setup consisting of two descending, converging trendlines connecting lower highs and lower lows. The intersecting nature of the....
The bearish outlook appears also as Cardano’s daily RSI reflects overbought sentiments. However, the euphoria surrounding Cardano’s smart contracts launch and its mild correlation with Bitcoin are keeping the upside hopes intact. The latest rally in the Cardano (ADA) market has activated a classic bearish pattern that threatens to lower its prices by as much as 15%.Dubbed as a rising wedge, the textbook pattern forms when the price consolidates between upward sloping resistance and support trendlines. Its occurrence typically prompts a bearish reversal, confirmed by a voluminous break....
The bullish setup emerges as Monero gears up to undergo a major hard fork in July 2022. Monero (XMR) price dropped by nearly 10% three days after establishing a week-to-date high around $290 on April 24. Nonetheless, several technical indicators suggest that the XMR/USD pair is poised to resume its uptrend over the next few months.Falling wedge breakout underwayNotably, XMR's price broke out of its "falling wedge" structure in late March. It continued its move upside in the later daily sessions, with rising volumes indicating bullish sentiment among Monero traders.Traditional analysts....
Cosmos’s native token ATOM has surged more than 38 percent in the last five days, validating a textbook technical indicator that now predicts additional 70 percent gains for the cryptocurrency. ATOMUSD breaks out of its Falling Wedge pattern. Source: TradingView.com As shown in the chart below, ATOM/USD was trading inside a Falling Wedge pattern, confirmed […]
Yes, Elon Musk's Twitter acquisition is one of them. At least three market catalysts show that Dogecoin (DOGE) could climb by at least 50% by the end of Q3/2022.Falling wedge breakout in playDogecoin has been painting a "falling wedge" pattern on its longer-timeframe charts since May 2021, hinting at potential for a bullish reversal in the coming months.Falling Wedges appear when the price trends lower inside a range defined by two descending, converging trendlines. Their occurrence coincides with declining trade volumes, suggesting that trading activity slowed down due to the narrowing....