Cardano Near $1 After Triangle Breakout — Momentum Intact Despite Overbought Readings
I see Cardano consolidating around $0.93 after a breakout from a multi-month triangle and a rapid run to $0.9990.
Technical indicators are overbought, so a short-term pullback is possible, but bullish momentum remains intact and supports further upside potential above $1 if the breakout holds.
I’m watching for a weakness entry or signs of exhaustion; I’d prefer to buy on a clear dip or hold positions with disciplined risk management.
Analysis
Recommendation
Prefer buying on weakness or holding existing positions; wait for a dip to enter or confirmation that the breakout is sustained, and use stops to limit downside risk.
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.