Technical indicators show that an important rise for Cardano (island) may be at the door. In particular, the TD Sequental indicator, which determines support and resistance, reveals that the island gives a purchase signal in a 4 -hour graph. So, can the island continue this acceleration and reach new summits?
CARDANO PRICE IN THE Consolidation Process Pre -Breaking
Cardano creates a symmetrical triangular formation with existing price movements. This model is usually seen as a harbinger of a large price movement. As the symmetrical triangle approaches the peak, the island seems likely to experience a upward break.
- Price movements show that there is a balance between buyers and sellers.
- However, the direction of exit from the triangle will be decisive and may initiate a strong wave of rise.
In addition, 9 periods of mobile average (EMA), 26 periods over the EMA, the EMA has created a intersection that supports the bull tendency in the market. This shows that the price is ready to move upward in the short term and that buyers gain strength.
On the other hand, the crypto fear and greed index is at 51 level. It shows that there is no extreme fear or extreme optimism in the market, but there is a steady environment open to rise.
Is the fall ends?
According to the data shared by analyst Ali Martinez, the TD Sequential indicator gave the purchase signal on the 4 -hour graph of the island (A13).
- This indicator is used to determine the exhaustion points of the trend and possible direction changes.
- The emergence of the purchase signal may mean that the downward trend ends and the transition to the bull trend may begin.
This indicator also coincides with price movements and intersection of EMA, which strengthens the likelihood that the island will achieve $ 0.85 and $ 0.90.
Can the liquidation of Short positions increase the price of Cardano?
The liquidation map shows that the island has an intensive liquidation zone between the $ 0.80 – 0.82. This reveals that many investors open a short (short) position at this level.
If the island exceeds this resistance level, these Short positions will be mandatory and will create more purchase pressure.
This may create a feedback cycle that can enable the price to rise rapidly. In addition:
- The island also has significant liquidation levels in areas below the current price.
- However, the existing technical indicators show that the price is higher than the upward movement.
These data support the possibility of realizing a fracture from the symmetrical triangle.
Basic indicators that support the rise for Cardano
The increase in the Open Interest and transaction volume of the island reveals that the confidence of investors on the market has increased.
- The increase in the transaction volume shows that the market is actively starting to trade.
- The opening of new positions by investors points out that the island can gain upward momentum.
There has been a significant increase in volume in the final transactions, which shows that the purchases are intensified and the interest in the market has increased. This increase in volume, price movements and TD Sequental’s purchase signal confirms. If this trend persists, the island may experience a strong break in the near term.
The island price can target the level of $ 0.85
If the island exceeds the upper limit of the symmetrical triangle, the first target can be $ 0.85. Technical indicators and market dynamics show that the island has a strong basis for the rise. If the procurement pressure continues, higher levels for the island may become possible in the coming days.
