ADA --Is the Head and Shoulders Pattern Activating?
ADA ( CARDANO) Potential for a 20% Drop !
We are observing a head and shoulders pattern on the 4-hour and daily timeframes. This pattern could activate if the 0.59 to 0.56 cent support zone is breached. In this scenario, we could see a 18 to 25% drop in price.
Key Factors to Consider:
Confirmation of Pattern: The pattern should be confirmed with a break below the neckline and increased volume.
Target Price: The target price for the pattern is calculated by measuring the distance from the head to the neckline and projecting that distance below the neckline.
Risk Management: It is important to use proper risk management techniques when trading this pattern, such as stop-loss orders.
Please note that this is not financial advice and you should always do your own research before making any trading decisions.
We are observing a head and shoulders pattern on the 4-hour and daily timeframes. This pattern could activate if the 0.59 to 0.56 cent support zone is breached. In this scenario, we could see a 18 to 25% drop in price.
Key Factors to Consider:
Confirmation of Pattern: The pattern should be confirmed with a break below the neckline and increased volume.
Target Price: The target price for the pattern is calculated by measuring the distance from the head to the neckline and projecting that distance below the neckline.
Risk Management: It is important to use proper risk management techniques when trading this pattern, such as stop-loss orders.
Please note that this is not financial advice and you should always do your own research before making any trading decisions.