Cardano (ADA) Consolidation

Consolidation looking nearly complete for ADA after the big runup. Currently playing between important fib levels after clearly rejecting the lower levels signaling relative strength.

Keep an eye for the breakout with a 2 hour close above the upper resistance trend line around about 6100 sat on good volume for confirmation for the next move upwards

Let's look a little closer to see if we can see any signals of where we're at in this cycle

As you can see Stochastic RSI has bottomed out while price action continues to creep up signaling ADA is gaining momentum to the upside. MACD Histogram is currently signaling oversold and curling up as well.

With these in mind, I would have ADA on my radar as we know it has strong legs to run when/if it wants.

Not financial advice.