ADA (Cardano) lets take some profit on short for now.

#ADA /USD TA Update:

ADA currently trading at $0.3594

According to Coinlion Trend Trader Indicator, we got en Exit Point Alert for ADA at $0.4 (04/21)

Coinlion Trend Trader Indicator entered short at 0.3864 the 4th of may.

Then takes 2 times Profit :
1) $0.365 (20% exit position)
2) $0.362 (10% exit position)
(6,5% Profit).

There is a strong resistance at the 200EMA. The same which has rejected ADA many times before

But we have broken the descending channel.

Now we have a support on the 200SMA at $0.352 and a liquidity zone support between $0.2986 and $0.30

Cardano can test again the channel which should be a support now aligned with the 200SMA and 50SMA around 0.357
+ we can see that ADA is oversold. The trend might change soon as whales are accumulating a lot ADA.

Lets see what happens and follow the indicator instead of our emotions.

What do you think ?

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