Cardano: Price Analysis, April 09

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ADA/BTC

Though Cardano continues to trade in a range, it is forming a bullish ascending triangle pattern, which will complete on a breakout above 0.00002460 levels.

ADA/BTC

The pattern target of a breakout above the upper end of the range is 0.0000323, but we believe that the up move can extend to 0.000035 levels.

Hence, we suggest a long position on the ADA/BTC pair on a breakout and close (UTC time frame) above 0.0000246. The stop loss for the trade can be kept at 0.00002.

If the bulls fail to achieve the breakout, a few more days of range bound action will continue.

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