Daily graph:

– We see a nice cover W drawn in blue. As mentioned in other analyzes, we consider a W-shaped recovery to be very reliable.

– Volume rises again, which is a bullish sign. Nevertheless volume has not reached a level close to the previous one volume spikes that might indicate the lump is still coming.

– The resistance levels at $ 1.4, $ 1.85 and $ 2.4 were all eliminated in a short time.

– The $ 1.85 resistance level has been tested and is now used as a support.

– RSI is currently close to overbought territory and has been rejected from it.

Waiting:

– We expect to see new ATHs until September 12th and do not yet know what to expect next.

– $ 3 seems a doable task so far.

– Once smart contracts are up and running and ecosystems grow, we might even see a $ 10 cardano once. Stay tuned and carry on.

Basic rules:

– Never buy the top / ATH

– Take profit as long as you can (partial profit is also profit)

– Use Stop / loss for leveraged positions

– If you are not experienced, do not take advantage in the first place

Enjoy the ride and don’t be too greedy.

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Cheers

ps.

Explanation of the graph:

Main lines:

– Green lines are tested support lines.

– Orange lines are resistance lines or, if we are above, possible support lines which have not yet been tested.

– The cyan line is for volume trend line.

– The white lines are Fibonacci retracement levels

Help lines:

– The purple lines are trend lines we take a look.

– The blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.

– The yellow lines are for visual aid only.

Boxes:

– Either the entrance area or support area . Check the description.