CARDANO Breakout! ADA Attempts Gravity-Defying Move!

In this video, I discuss Cardano’s (ADA) recent price movements, particularly focusing on a significant breakout from a symmetrical triangle formation that has been setting up over the past few weeks. I delve into the possibility of ADA’s move being a real, confirmed breakout and dissect its implications. Highlighting ADA’s break of the upper trendline of the symmetrical triangle, I explore the potential target to the upside and whether this move is a solid confirmation of a bullish trend. I reference a clip from December 10 to illustrate the anticipated setup for ADA and compare it to Solana’s prior movements, using Solana as a leading indicator. I also touch upon the significance of ADA possibly overcoming the 200-week moving average resistance, a macro indicator that could be pivotal for its future trajectory. Furthermore, I analyze ADA’s position in relation to its 20-week and 50-week moving averages, noting a similar bullish cross-over pattern that previously coincided with Bitcoin’s halving. I express caution due to ADA’s overbought condition on the weekly chart, acknowledging the possibility of a pullback, but also speculate on the unprecedented bullish potential if ADA defies this trend. Throughout the video, I emphasize the importance of watching ADA’s short-term movements, particularly its resistance levels and potential for a continued upward trajectory or a reversal to the downside, including a specific downside target of around 46 cents.

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Intro 00:00
Waited weeks for this exact ADA move 00:35
Understanding resistance 1:50
Could Cardano defy all this gravity? 4:00
Bulls creating stepping stones 5:15
If ADA price falls 6:30
The most bullish thing… 7:00
Cardano price has broken out of triangle 7:40
Short term resistance I am watching 10:10
Where would support be for ADA 11:30
Bearish target if crypto falls 12:00
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Cardano Ada trying to make a little bit of a breakout out of a very important symmetrical triangle that we’ve been waiting weeks we’ve been waiting weeks for this to set up I want to talk about that in this video 80 cent Target to the upside what I want to explore in this in

This video is is it real is it happening is this is this a confirmation I think that’s the question we broke this upper trend line of the symmetrical triangle I want to dissect the move right now and just talk about what I’m personally anticipating so everybody please hit the

Like hit the Subscribe let’s just jump into the cardono video I appreciate you hope you’re having a good week I want to actually start with this clip this is so important to what we’re about to discuss this was from December 10th just over two weeks ago check might not

Necessarily be like ad is is going to continue mooning but this could be the the established structure getting ready to happen that we’re waiting for for Ada and what could that look like it could look like the 20-day pulling into Ada some type of formation here some type of

Structure I don’t know what it would look like maybe we go a little higher 65 cents which we’re going to talk about in the hourly chart and then we’re coming down then we’re trickling down and we’re up and we’re like in some type of symmetrical triangle boom some type of

Symmetrical triangle it’s one of my favorite patterns I’m not saying I called that but it just is so typical of just consolidation in these higher highs higher lows on the macro charts here’s a symmetrical triangle it happened that analysis was heavily based off of sana’s Prior moves we were using salana as a

Leading indicator in this video and you can even see I can go this is what we were talking about we were talking about this exact move on salana that had already happened you can see the salana chart breaking out of symetrical triangle to the upside now Weeks Later

Cardano has set up a very similar piece of structure and this is the move I want to talk about now that it’s occurring first thing I want to do before we even dive into what’s going to happen next on the shorter term I just want to make a

Point going over to the weekly chart I’m not ignoring the the very fact that right now we have the 200 we moving average which is obvious huge resistance just above where Ada is right now we can use this as a caution sign we can also use it as a confirmation sign if Ada

Somehow makes its way to this 80 cent Target and explodes through this 200 we moving average and we close a weekly candle above this this is a a macro indicator that will be massive for Ada so that’s the first point I want to make the other point that I want to make and

Then we’re going to dig into the charts the other point that I want to make is I want you to just look at this chart this insanely bullish move the 20we moving average crossing the blue 50 we moving average the last time this happened on Ada was all the way back here it

Happened almost right exactly at the Bitcoin having you can see the 20we crossing above the 50 we now we’re in a very similar move this is a cycle shift move right here but look what look at the the momentum of ADA price it took to make the move happen boom and then Ada

Pulled back into those moving averages a healthy consolidation we’re very much in this move I’ve been talking about obviously it’s happening earlier this cycle around but this is the move but what I want to point out is this after the 20we moving average crossed that 50 right around Bitcoin having it took 63

Days before the consolidation really just occurred right and it actually fell 63 days later it fell if we go and we look at the chart now this this is just happening the 20 above the 50 this this is just happening that’s not to say we’re going to have

From This Moment 63 days but I just want to chart it real quick that brings us into February so my my the thing that I’m watching right now as Ada hovers at the same overbought territory that it was finally at then before falling the question I have really is this is a

Really going to defy that gravity because on the weekly and this will be a first this is a game changer this is an insanely bullish indicator a bullish indicator if Ada does do this breaking the 200 we moving average continuing to go higher after being overbought in the

Similar scenario that we were back here right before meaning it’s it’s not going to pull back to these moving averages before going higher like it did back then and like it so often does in any crypto so I just want to point that out that’s on my mind this is what I’m

Watching I want to see is adative really going to hang out in overbought territory and keep going but as you can see right there there’s there’s reason for there’s reason for caution right things have been overbought it just is what it is now as we prepare to go into

The new year we have we have a bit of structure on the the zoomed in charts and this is what we’re looking at so I want to discuss right now on the zoomed in what I’m watching on Ada if we start on The Daily just want to note something

This last piece of consolidation because this is where we really start taking historical context and really understanding the move that’s happening we already anticipated the move symmetrical triangle done now it’s there but you can see this last bit of consolidation as Ada pulled into the 20-day similar to what just happened now

Before going higher 24 days of consolidation it took right we go and we just I’m I’m I’m going back now into that Shelly move remember we were just on the weekly we were we were kind of comparing Ada right here and then going here I’m I’m just showing you a bullish

Chart on Ada historically right so this is back then higher highs and higher lows look at this it’s Stepping Stones up 29 days of consolidation up 28 days of consolidation up 18 days of consolidation and there’s the top right there’s the top we just looked at for uh

Being overbought in the weekly back back then and then it Consolidated 50% that’s a 50% move to the downside I know it doesn’t look like a lot but swing High to swing low 51% everybody before entering the bull market that’s valuable context right there in terms of where we

Are right now because we’re getting a similar Vibe right we’re we’re coming out of a a bare Market low it’s Stepping Stones once again and we’re we’re at these early stages Stepping Stones 24 days of consolidation stepping stone to the next stepping stone and how how many

Days of consolidation are we in right now 20 days of consolidation so a break is getting ready to happen but keep in mind on that Weekly chart it is overbought so I just want to say this if Ada fails right here on the daily if adaa fails doesn’t break out to the

Upside actually starts falling to the downside in a similar fashion to what happened back here and if we go back to the the daily chart even so what happened back here in my mind that’s okay because from a momentum oscillator perspective from being overbought perspective that’s in

Play but I’m just going to say this now we can start talking about upside if Ada if Ada defies that gravity and actually does continue to the upside right now and continues to an 80 cent Target this will be not only diverging from what adaa did in the last cycle but all

My years in crypto watching cryptos at this stage of a cycle I’m talking about pre- Bitcoin having not in this post Bitcoin having bull market pre- Bitcoin having if this happens this would be I would I would say a first for me and a first for for markets so let’s talk

About the move now we got the breakout out of the symmetrical triangle for me I’m not always like oh I’m I’m just 100% this is it we’re going to our Target you know me I’m not so easily sold I like to see breakouts and then even just revisits to trend lines and

Even apexes uh in this case this this triangle so boom and then continuation to the upside really proving itself and a really good example right here is you can actually see uh a just put in this change of character which is a good first step this is a lux algo indicator

Change of character indicator but there’s one thing missing in terms of what I think could make it even more bullish and if we actually go to this last piece of consolidation that we just looked at and just to give you an idea remember we’re talking about these

Stepping zone so I’m right now I’m going to dissect this is the daily but we’re going to dig into this move and the breakout right here this is what I’m I’m looking for on the zoomed in because this this zoomed in chart that we’re working with with a symmetrical triangle

It’s a 4-Hour chart so notice what happened though right before this massive breakout so it’s consolidating for over 20 days we just talked about that a lot of volatility there right boom boom boom boom and then it’s this this move right here so here’s the change of character

Move which is very similar to kind of what we’re getting right now you see Ada just making kind of right here this move this break to the upside kind of starting to break and test this entire area that’s what’s happening right now on the Ada chart right you can just see

Breaking this previous swing High obviously not breaking this swing high but this change of character occurring right now and if we go back and we look at what was the next thing that happened it was a change of character followed by a break of structure now notice what

Happened though change of character hit retraces one last time and then moves up and then we start seeing these very short-term higher highs and higher lows so that’s kind of what I’m watching for right now in terms of ADA there’s potential where it’s going to just maybe

Just see resistance now go up a little bit more throw back and then start seeing support start seeing higher highs and higher lows we get a break of structure somewhere around here and then where we have I think even a more bullish confirmation in an environment

Like that so on the short term I’m I’m I’m watching and I’m talking about like right now as I record this video tonight I’m just going to be watching the charts I’m very curious what happens with Ada right now because not only uh the the resistance we’ve talked about so far but

If you actually look at this red rectangle I’ve charted here that’s that swing high that we had on December 13th two swing low we’re in this lower high resistance area this Fibonacci resistance so you can see swing High swing low we’re we’ve Revisited this area once we retraced to this resistance

Area once and failed came back down so swing High swing low and now we’re coming back into it again right so boom we’re at the resistance level right now so I’m very curious to see on the very short term what Ada does and that’s tonight this is what I’m watching is it

Going to break this area it’s a previous swing high of resistance but it’s also just a pretty big shortterm Fibonacci retracement resistance area so there’s a lot of resistance right now would absolutely love seeing ad just explode through it make its next parabolic move to the upside a similar move to what

We’ve been seeing with things like salana things like avac this those charts the salana chart helped us really truly anticipate or it really helped me anticipate this move this of consolidation uh pulling into the 20-day moving average just so nicely on The Daily but that doesn’t mean just because

It did what salana did in that similar fashion we’re going to get the parabolic move that salana got cuz now it’s now it’s a test of are we going to get all these bullish confirmations that we’re talking about on the shorter term and that’s what I’m watching for so at Key

Resistance right now I’m going to be watching that tonight any type of throwback I’d really be looking somewhere in the apex of the triangle I mean back down to 60 61 cents wouldn’t even be that odd and that wouldn’t mean it’s a game Cher for for cardano and

We’re just definitely going to the downside but it would be a big retest an important retest for adaa to start making higher highs and higher lows off of that that area that’s s what I’m watching um want to point this out maybe should have mentioned it sooner 46 45 46

Cent Target to the downside fake breakout to the upside fails Apex fails crypto consolidates going into January that’s in play and to give you an idea and a little dose of reality from where adaa is right now around a 30 20 25 to 30% move again is that really anything

If it’s it’s if it’s falling back to that area considering what we know happened last cycle in a very similar move we’re talking about a 50 we’re talking about a 50% fall swing High to swing low so 20 to 30% fall 100% in play um but we’ll see what happens all at

These resistance areas a a long-term 200 we moving average resistance area it’s overbought I think it’s just good to be realistic it’s overbought it’s overbought it’s okay it doesn’t mean I’m bearish it really doesn’t but it’s okay I think to anticipate resistance at these areas and then you

Go to the short term there’s resistance but it’s cool because as we try and watch these shorter term Stepping Stones we get shorter term resistance areas that kind of give us a more immediate signal right so this is what we’re looking at right now this is short-term resistance and I I imagine hopefully

We’ll find out soon whether whether it’s broken to the upside or adaa fails back to the downside so this is what I’m watching now on cardano charts everybody but wanted to share it with you I hope that you’re having a good week if you’re not a subscriber please hit the

Subscribe turn notifications on and as always everybody your support means a ton so thank you for watching the video thank you for liking the video if you’re out there liking it and I’ll see you all in the next video God bless