While the crypto focus has been on Solana and then Ethereum with each seeing breakouts over the past week, Cardano continues to coil after last week's jump.
This is taking the form of a symmetrical wedge, which is indicative of digestion after a really big move. When taken with the prior up-trend, that wedge can be looked at as a bull pennant formation, with bullish breakout potential.
The big level ahead is the $3 marker which already appears to be playing some role in resistance despite not having yet come into play. Buyers shied away during the initial break, and that's only led to lower-highs since as the wedge has built-in.
This is taking the form of a symmetrical wedge, which is indicative of digestion after a really big move. When taken with the prior up-trend, that wedge can be looked at as a bull pennant formation, with bullish breakout potential.
The big level ahead is the $3 marker which already appears to be playing some role in resistance despite not having yet come into play. Buyers shied away during the initial break, and that's only led to lower-highs since as the wedge has built-in.