17.03.202217:20 Forex Analysis & Reviews: Cardano is providing a bullish signal.

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In previous post we mentioned the downward sloping wedge pattern Cardano price was forming. Today price is breaking above and out of the wedge pattern providing us with a bullish signal. This could be the start of a bigger bounce higher.

Red lines - wedge pattern

It is important for bulls to start making higher highs and higher lows. Technically trend has not changed to bullish yet as the latest high at $1 is still not broken. We have a first bullish signal but for trend to change to bullish, we at least need price to break above $1. Upside target is at $1.60 if this breakout is confirmed above $1.

Alexandros Yfantis
Analytical expert of InstaForex
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