ADAUSD builds a huge bullish flag on the daily timeframe the last days between the 0.07 and 0.09 level. Not only has ADAUSD formed a flag in the daily chart but also in the 4-hour chart between the 0.082 and 0.09 level ADA/USD Price Analysis: 4 HR CHART CARDANO ADA Price Analysis Open: 0.08611 Volume: 19.38 M Days range: 0.08279 — 0.08878
This is actually a good
bullish price movement because we have a doubled bullish pattern and when we confirm it to the upside, this will cause some more bullish movement.
It is likely that we confirm the smaller flag first and after this has done to move to test the upper line of the bigger
test therefore we can expect some volatility
within the bigger flag before breaking out finally.
ADAUSD has definitely some more upside potential when there doesn’t come any more
bearish signs which will invalidate the bull flag and show downside moves.
RSI is in a moderate level and can break to the upside for reaching the overbought areas in the indicator. Trend: Sideways Expectation: Breakout Trend after expectation: Upside Formation: Two possible bull flags What do you think, will ADA breakout?
Source: Cardano [ADA] Price Analysis: ADAUSD Builds A Huge Bullish Flag On Daily Timeframe