Time to analyze my favorite coin, ADA.
As we said before:
Cardano (ADA) has been going through some corrections as we all expected. right now it's consolidating in the confirmation area, which is the yellow thick line. If it manages to get enough buyers then this confirmation can start a whole new bullish market for this coin.
And I think this might be the time for it because we're in a demand zone and we just need more Buy Volumes in the market.
However, if things don't work out and we see a drop from that point, then our Green Zone, which is our strongest support area can push the price back up in no time.
Update: Watch for Bitcoin, since it looks like it's going to touch ATH or even cross it. After Bitcoin calms down ADA can perform stronger than now and might run for testing the ATH. If possible, it might cross it and touch the red resistance as I've shown on the chart.
if not successful, then it's going back down but I'll update the support when that's about to happen.
Right now I'm seeing strong demand for ADA since it's trying to bounce from this demand zone.
Also, the market is showing Strong Buy volumes for ADA on different platforms.
I'm buying more ADA myself, and if it drops I'll buy even more... I always look at ADA as long time investment and never do future trades on it. If you are trading on it, be careful, because any unadjusted long or short position might cause liquidations since we are not sure if it's going to drop or bounce back up.
I'll keep this chart updated.
Use this chart as your trade setup for now.
Current Market Price: $2.293
Good Luck
Tell me your ideas. Like and Share
As we said before:
Cardano (ADA) has been going through some corrections as we all expected. right now it's consolidating in the confirmation area, which is the yellow thick line. If it manages to get enough buyers then this confirmation can start a whole new bullish market for this coin.
And I think this might be the time for it because we're in a demand zone and we just need more Buy Volumes in the market.
However, if things don't work out and we see a drop from that point, then our Green Zone, which is our strongest support area can push the price back up in no time.
Update: Watch for Bitcoin, since it looks like it's going to touch ATH or even cross it. After Bitcoin calms down ADA can perform stronger than now and might run for testing the ATH. If possible, it might cross it and touch the red resistance as I've shown on the chart.
if not successful, then it's going back down but I'll update the support when that's about to happen.
Right now I'm seeing strong demand for ADA since it's trying to bounce from this demand zone.
Also, the market is showing Strong Buy volumes for ADA on different platforms.
I'm buying more ADA myself, and if it drops I'll buy even more... I always look at ADA as long time investment and never do future trades on it. If you are trading on it, be careful, because any unadjusted long or short position might cause liquidations since we are not sure if it's going to drop or bounce back up.
I'll keep this chart updated.
Use this chart as your trade setup for now.
Current Market Price: $2.293
Good Luck
Tell me your ideas. Like and Share
