With the fireworks of the bounce now over, it is time to scrutinize the legitimacy for a continuation of the rebound. The short answer is that the technicals are stacked against a leap higher from the current price. No topic has greater traction in the blockchain world than decentralized finance (DeFi).
Cardano price has recovered part of the 40% decline, but the combination of the symmetrical triangle’s lower trend line and the 2018 high may ambush the advance. A neutral outlook is an optimal approach with ADA until it springs into new highs.
Swipe price has staged a significant comeback and appears ready to form the right shoulder of a head-and-shoulders bottom pattern. The shoulder will unfold at the lower range of price congestion extending back to the February highs. If this pattern continues to be constructive, SXP will be well beyond the all-time high.
