Cardano [ADA] Price Analysis: ADAUSD Builds A Huge Bullish Flag On Daily Timeframe 

Vince Prince Altcoin News Publish On June 8, 2020 | Modified On June 8, 2020

cardano ADA

Cardano [ADA] Price Analysis: ADAUSD Builds A Huge Bullish Flag On Daily Timeframe 

  • 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
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.

The 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?

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Vince Prince 16 Articles
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