ADA - broke out of the wedge pattern, signaling a preference for opening long positions.
We successfully tested a solid support zone between 0.4130 and 0.4660, which pushed us higher.
The nearest resistance is between 1.1 and 1.24. In addition, underneath this resistance there is an imbalance (FVG) that acts as a price magnet.
Currently, the trend is bullish, which discourages short-selling. Therefore, I divided my strategy into two phases, as indicated by the arrows.
Once I reach any of these zones, I will look for confirmation and adjust my approach accordingly depending on the prevailing market conditions.
We successfully tested a solid support zone between 0.4130 and 0.4660, which pushed us higher.
The nearest resistance is between 1.1 and 1.24. In addition, underneath this resistance there is an imbalance (FVG) that acts as a price magnet.
Currently, the trend is bullish, which discourages short-selling. Therefore, I divided my strategy into two phases, as indicated by the arrows.
Once I reach any of these zones, I will look for confirmation and adjust my approach accordingly depending on the prevailing market conditions.
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