ADA (Cardano) Long opportunity

9 Kas 2021

ADAUSD

Hello All!

Cardano has been traveling in a channel as can be seen in the chart. After about 2 months of falling, it's now again at its lower trendline which generates a good opportunity to go long!

Its also trading above its 50 daily EMA and has broken trendline 1 which was depicting its fall. These indications further support the idea of going long.

Also, the Reward to Risk ratio is favorable!

Do let me know your thoughts on this!

HAPPY TRADING!