$ADA Golden Pocket And Fair Value Gap Converge: Target Zones To Watch
👉The next challenge lies in reaching a zone that combines two significant technical features: the golden pocket and a Fair Value Gap (FVG). The golden pocket, located between the 0.618 and 0.65 Fibonacci retracement levels, is commonly seen as a strong resistance zone, especially following a breakout.
👉In the case of Cardano, TehThomas identified the golden pocket lying around $0.72. This level here could pose a resistance for any uptrend above $0.70.
👉The $0.72 region is also highlighted by a Fair Value Gap (FVG), created by the quick price fall in March that left behind an unbalanced area on the chart.
👉According to TehThomas, price tends to revisit these imbalances to "fill" them, making this confluence a magnet for short-term action.Liquidity will likely be clustered here as well, meaning that Cardano could face some volatility as it approaches it.
👉 If bulls can break through this zone with conviction, it could open the path to above $0.7.
👉However, if the price stalls or rejects, the cryptocurrency may pull back to retest the breakout point at $0.65 before attempting another push. Interestingly, this has been the case in the past 24 hours.
#adahunters #priceaction #buyADA