Lets take a birds eye view of the Cardano market vs Bitcoin to get an idea where we stand.
We can see that the momentum is still against the Bulls, quite natural in a market correction like this.
We can see the RSI is still above 50, which is a good very good sign and if it stays positive we can expect solid support above 5000 sat.
The Cardano market seems to be painting a nice bull flag, but we will see how the market reacts today.
Should 5000 fail we could possibly see a selloff in the market that will push prices closer to the 4k sat zone.
Should momentum turn in favor of the bulls, look to the RSI and PPO to confirm.
Higher risk trade: Stack some buy orders from here down to 5k to play the bounce.
Safer trade: Wait for the breakout above 6000 sat, make sure there is momemtum.