If we look at its 4 hour chart, Cardano cryptocurrency seems moving inside the Pitchfork channel going down followed by the appearance of Bearish 123 pattern along with the appearance of Ross Hook (RH) where this indicates that the seller is dominating the cryptocurrency but at the same time when Cardano touches the diameter of the Pitchfork Channel the Stochastic Oscillator indicator touches the Oversold level which indicates that Cardano will appreciate in the near future going up to the Upper Channel Pitchfork as the targe, and if momentum and volatility are also supportive, Cardano will continue its rally up to the level of 0.39529 but if on its way to the target levels described earlier it suddenly collapses again below Ross Hook (RH) at the level 0.34633 then there is a high probability of a bullish rally scenario previously described will become invalid and cancel automatically.
Read next: USD/JPY Is Below 131.00 Again, The Aussie Is Close To 0.70$| FXMAG.COM
Relevance up to 03:00 2023-02-11 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
