🔥 ADA Update: Reversal From Resistance
In my previous ADA analysis, I made the prediction that ADA would break out from the ATH and see a strong move towards the upper resistance of the channel. That trade was a great succes, congrats if you had some nice returns from it!
Currently, the price seems to have reversed from the top resistance. This is in line with the rest of the crypto market, everything is practically red at the moment. This trade is based on the idea that ADA will follow this channel in the near term. A fall towards the $1 is to be expected, after which ADA will resume the channel with a bullish reversal from the Entry line.
Before entering this trade wait for the price to touch the Entry line. Higher time frames yield a higher predictive power.
On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs and round numbers. Do your own due diligence.
Happy trading!
Currently, the price seems to have reversed from the top resistance. This is in line with the rest of the crypto market, everything is practically red at the moment. This trade is based on the idea that ADA will follow this channel in the near term. A fall towards the $1 is to be expected, after which ADA will resume the channel with a bullish reversal from the Entry line.
Before entering this trade wait for the price to touch the Entry line. Higher time frames yield a higher predictive power.
On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs and round numbers. Do your own due diligence.
Happy trading!
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📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
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🔥Premium Signals: fierytrading.com
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