Cardano is a blockchain platform that is open to the public. It is open-source and decentralized, with proof of stake used to reach consensus. With its native coin, Ada, it may allow peer-to-peer transactions. Charles Hoskinson, the co-founder of Ethereum, launched Cardano in 2015. The Cardano Foundation, located in Zug, Switzerland, oversees and supervises the project's progress. What is more, Cardano is also the biggest cryptocurrency to employ a proof-of-stake blockchain, which is seen as a more environmentally friendly alternative to proof-of-work protocols. Recently, Cardano has experienced growth that has attracted investors from all around the world to invest in cryptocurrencies. Comparing it to current Cup and Handle, a recent study found patterns of the recent past that might be of interest to you.
The analysis features the patterns of both May 2021 and August 2020 on the same part, utilizing the Fibonacci extension Channel. After August 2020, C&H was finalized, a two-month parabolic rise was launched. Take note of how the handle began immediately after the 1D MA50 and the 1D MA 100 established a Bullish Cross and was finished after the latest low on the 1D MA100. On the present C&H (May 2021), the price recently touched the 1D MA100 on October 06 and is maintaining inside that and the 1D MA50 as resistance. If the pattern holds, we may anticipate the Handle to break shortly, paving the door for the fresh parabolic surge. Look how both patterns started after a squeeze of the 1D MA50 and 1D MA200.
Should this happen to be the case, the next obvious thing to consider is how high can this really go? That can be described using the Fibonacci Sequence. The channel's initial high was, of course, on the Fib 1.0. The initial C&H's parabolic surge came to an end with a higher peak on Fib 1.5. If the current arithmetic sequences continue, the next Higher High should occur on Fib 2.0. (i.e. 0.5 Fib higher than the previous). That should be approximately $15 during a two-month time span. Is this the last chance to purchase Cardano before $15? Last but certainly not least, we want to emphasise that this is an analysis based on critical analysis.
Finally, you can still take advantage of our overall listing of the best crypto casinos, currently, on the market, so do not miss this exciting opportunity.