ADA testing strong support
Updated
ADA is approaching its previous resistance, which means it will now act as strong support. Could be a nice zone to accumulate before it possibly increases 25% to test it's monthly highs. The RSI on the 4 hour chart is indicating it's drastically over sold setting up an opportunity for a nice swing trade.
Comment
No chart covering this span of time should be on the 4 hour. Long shouldn't be called until there is a clear trend reversal like the higher lows. Not a good use of the moving average tools either. It was clearly below the moving averages, so i wouldn't even consider a long position until that trend is swapped
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