#CARDANO : Bullish Move is Coming ⁉️
- Cardano is at a significant resistance level, making its next move difficult to predict.
- The cryptocurrency has momentum, but it's unclear if it can break above this resistance level.
1️⃣ Bullish Signs:
- Cardano looks bullish on lower timeframes.
- There are symmetrical and steady buy orders, suggesting institutional or whale buying.
- The cryptocurrency has a positive CVI and is experiencing bullish breakouts.
2️⃣Uncertainty and Risks:
- The motive behind the buying is unknown, adding uncertainty to its future.
- There is a risk of a significant sell-off, similar to previous occurrences.
- The strong resistance level at 43-43.5 cents needs to be broken for a bullish turn.
3️⃣ Bitcoin's Influence:
- Bitcoin's performance is crucial, as a breakout above $60,000 could help Cardano break out.
- Currently, Bitcoin's performance is not convincing.
4️⃣ Trading Advice:
- Don't short Cardano yet, as there's no confirmation of a bearish trend.
- Don't buy Cardano yet, as it's at a strong resistance level.
- Wait for confirmation of a breakout above 43 cents or a bearish trend before making a move.
