ADA has been trading in downtrend for about 4 months. The price is 55% lower from its ATH .
In the last weeks ADA has been forming a falling wedge . Falling wedge are bullish patterns that usually indicate potential trend reversal.
In case of breaking up and confirming, It could mean the start of an uptrend for Cardano .
Fake breakouts happen often, that is why we are waiting for a couple of candles closing above the upper trendline as confirmation.
Trade safe!
In the last weeks ADA has been forming a falling wedge . Falling wedge are bullish patterns that usually indicate potential trend reversal.
In case of breaking up and confirming, It could mean the start of an uptrend for Cardano .
Fake breakouts happen often, that is why we are waiting for a couple of candles closing above the upper trendline as confirmation.
Trade safe!
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