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hey friends this is arthur for being well and welcome to the new update on cardano coin in my previous video i told you that how the cardano has completed a very big bullish setup that can lead the price action to even uh reach up to five dollars in the long term very easily and now in today's video i'm going to show you that how the price action is going to break out a very important key level resistance and after breaking out this resistance the price action can easily move up to the previous highest price ever in the history of the car then know as for bittrex exchange and that is approximately 1.4 now first of all i would like to give you some recap this was the move of cardeno that i shared with you back in march 2020 when the price action of cardeno completed this uh bullish butterfly patent on the monthly chart this was really a very big bullish butterfly and entered in this potential reversal zone at that time you can see that the price of cardeno was approximately at three cents and now i'm just going to play this chart and you can see that it has rallied up to approximately 40 cents uh so far and this is more than that 1200 percent very powerful bullish rally now after this rally in the u.s dollar market with the u.s dollar pair uh the ada is at a very very important key level resistance it has broken out this 15 cents resistance first it was rejected and after this rejection it used the 25 simple moving average on the weekly chart as a support and broke out the next resistance of 15 cents after this rejection it broke out this resistance here it has also retested and confirmed this breakout you can see on this candlestick and moved up at this next resistance level and you can see that here the price action is moving sideways it is being consolidated and if this resistance of 38.5 cents will be broken out then the price action can easily reach up to previous highest price that was approximately 1.4 dollars and you can see this is the weekly chart and on this weekly chart we don't have any significant resistance from this level up to this level you can see that this is 38.5 resistance it's a very strong resistance previously we have seen this level is working as a strong resistance here back in 2018 it was rejected and now this is for the second time uh in 2021 it is trying to break out this resistance so there are strong chances that after this attempt after approximately more than two years is going to make another attempt to break out this level and while the price action is trying to break out this resistance level if we take a look at the ems the exponential moving averages with the time period of 10 and 21 on the same weekly chart then uh we have already received the bull cross between the emi 10 and emi 21 and the price action is moving above these twos these two ems and it is possible that the price action will again re-test the previous ema 21 like it has been retesting previously here here and again after getting rejected by this resistance 3.8 38.5 cents resistance level it will again re-test uh these two emas and it will start the next bullish rally to break out that resistance level now i want to show you a very very significant move that is we can see with the uh the ada with the bitcoin pair on this weekly chart and this is the ichimoku cloud again at this time the ichimoku cloud is playing a very very important role for example especially in the earl coin markets to give us the bullish or bearish signal that we can see that previously it was working as a very very strong resistance on the weekly chart with the bitcoin pair for ada and here the price line tried hard to break out this resistance but uh again it is moved down at this time uh the this ichimoku cloud is turned bullish and it is really very easy for the priceline to cross up the bullish cloud as compared to the bearish cloud so we can expect that soon it will break out this cloud and this is the historical movement that we are we are observing at this time the price line is crossing up this ichimoku cloud once it will be crossed up then ada can turn really really strong bullish and it can even cross up the previous highest price ever in the history of the ada very easily and this ichimoku cloud on the weekly chart will be breaking as a very very strong support for the price action of 88 like it has been working as a very strong resistance previously so this was the update so far i hope that you have liked the video then do hit the like and if you would like to support me on the patreon then i've also shared the link in the video's description you can find there and you will also find a lot more other trading ideas there on the patreon that will be really very beneficial for you take care goodbye