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.
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.
