Cardano Near $1 After Triangle Break — Momentum Intact but Overbought
I see Cardano consolidating near $0.93 after a sharp move up to $0.9990, following a breakout from a multi-month triangle pattern. The breakout suggests continued bullish intent even though oscillators are signaling overbought conditions.
I'm watching for either a shallow pullback that offers a better entry or a continuation above $1 to confirm follow-through. For now, momentum remains intact but risk is elevated until indicators cool off.
Analysis
Recommendation
Remain patient: hold current positions and consider buying only on a clear pullback or decisive reclaim of $1 with volume confirmation.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.