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This analysis is based on the idea of a Bullish Flag. The flag is visualized by the green support line and the red resistance line. Within these lines, the price has moved since the beginning of May 2022 and created this bullish formation. Using the Fibonacci instrument, a number of resistance levels can be expressed in the analysis. These resistance levels which are also potential support levels are located at 0.3926, 0.6903, and 0.8996 respectively. In addition, the instrument can also be used to determine where the target should be placed in relation to the price development of the formation (0.5592). With a good safety net in the form of support levels at 0.2395 and 0.3288, the price has some security. In addition, it can also be seen from the recent day's development that the price has recently experienced a high trading strength.
I hope this analysis was instructive and came up with some good points that can help create a picture of Cardano's current situation and how it is going to evolve in the future.
This analysis is based on the idea of a Bullish Flag. The flag is visualized by the green support line and the red resistance line. Within these lines, the price has moved since the beginning of May 2022 and created this bullish formation. Using the Fibonacci instrument, a number of resistance levels can be expressed in the analysis. These resistance levels which are also potential support levels are located at 0.3926, 0.6903, and 0.8996 respectively. In addition, the instrument can also be used to determine where the target should be placed in relation to the price development of the formation (0.5592). With a good safety net in the form of support levels at 0.2395 and 0.3288, the price has some security. In addition, it can also be seen from the recent day's development that the price has recently experienced a high trading strength.
I hope this analysis was instructive and came up with some good points that can help create a picture of Cardano's current situation and how it is going to evolve in the future.