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20.09.202407:09 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Cardano Cryptocurrency, Friday September 20, 2024.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 20.09.2024 analysis

With the appearance of the Bullish 123 pattern followed by several Bullish Ross Hook (RH) and the position above the EMA 21 which is also above the EMA 34 on the 30-minute chart, the Cardano cryptocurrency provides an indication that there is currently a strengthening momentum in the cryptocurrency so that in the near future Cardano will try to test and breaks above the level of 0.35551 if this level is successfully broken above then Cardano will continue its strengthening to 0.36401 as its main target and 0.37646 will be the next target if the momentum and volatility support it but with the appearance of a deviation between the Cardano price movement which forms a Higher Peak with the Awesome Oscillator indicator which on the contrary forms a Lower Peak then you have to be careful with the potential weakening correction that will occur but as long as the weakening correction does not broken below the level of 0.34843 then Cardano will continue its strengthening.

(Disclaimer)

Arief Makmur
Analytical expert of InstaForex
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