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02.12.202206:28 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Cardano Cryptocurrency, Friday December 02, 2022.

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If we look at the 4-hour chart, the Cardano cryptocurrency seems to be moving in a sideways condition and ranging in the range of the 0.29215 - 0.31257 level but now after testing the 0.31257 level it seems it will retest that level and then will reverse down to the 0.30277-0.30048 level because the current rally movement forms an Ascending Broadening Wedge pattern which indicates the loss of bull momentum from Cardano to move upwards but if on the way of a downward correction suddenly Cardano reverses upwards again until it passes the level 0.31772 then it is certain that the downside scenario described earlier will cancel by itself.

(Disclaimer)

Arief Makmur
Analytical expert of InstaForex
© 2007-2024

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