ADA 40% up, NOW what? Just be careful it could go either way!
Updated
Cardano ADA was beautifully rise up 40% with no hiccup. 2 scenarios are waiting for us A or B. I do believe that B is more likely, but with all the hype is going about ADA we could have A in place. First in trading stock, I always afraid from sell the news!!! I mean the listing on Coinbase pro. The hourly chart showing us that we have formed a steep ascending wedge, usually that the price will breakthrough down not up, the squeeze momentum indicator showing a bearish divergences so far.
Things to watch, If ADA don't hold the 1.32, we have a 3 support lines to watch 1.27, 1.24 and 1.07 before the trend reverse again and continue upwards. It could happen very much that we may have to revisit the 1.07 area to fill the gap been created for this runs up.
Scenario A it could very well happen if we breakthrough from where we are now 1.38 range knockdown the barrier of resistance 1.50 than the road is clear to at least $1.65 - $1.75
I myself sold half of my positions now and waiting to see what scenario is going to play before I buy again. !.32 is very important to hold, and 1.45- 1.48 is very important to knock down.
I'll try to keep you updated through the process as much as I can.
Trade at your own risk.
Things to watch, If ADA don't hold the 1.32, we have a 3 support lines to watch 1.27, 1.24 and 1.07 before the trend reverse again and continue upwards. It could happen very much that we may have to revisit the 1.07 area to fill the gap been created for this runs up.
Scenario A it could very well happen if we breakthrough from where we are now 1.38 range knockdown the barrier of resistance 1.50 than the road is clear to at least $1.65 - $1.75
I myself sold half of my positions now and waiting to see what scenario is going to play before I buy again. !.32 is very important to hold, and 1.45- 1.48 is very important to knock down.
I'll try to keep you updated through the process as much as I can.
Trade at your own risk.
Trade active
This is where we are now, two images shows us where we could go with ADA in short-term. we are at a cross road now either up or down to fill the gaps. the two images shows you the hourly chart from a mid-term looks, and the other one is the minutes chart for the shorter term.Note
If we continue upwards and that may well be, we will cross the 1.50 but at some point after we have to fill those gaps that I point to them with the 2 red arrows.In over all, we are very bullish, if you are long do not fear because the rebound from any downwards will be very fast towards the continuations of the up trend that we are in now.
Note
We have a rejection now at 1.45 to cross towards the 1.50, Bulls will try againNote
Crossing towards the 1.50 or 1.525 is just a psychological rewards for the Bulls, but a small correction from there is immanent I would say.Note
Here we go at the opening of Coinbase for ADA, a massive sell happened, did triggered so many stop losses on the way to 1.24Note
It cover the first gap we have, we still have the second to cover just below it. The question is are they gonna allow it now before the crossing the ATH. I hope no one gets hurts with that sudden dropped. I myself did catch some of the dip at 1.27 after I sold half of my positions last night.
I'll keep you updated shortly, I think now we are going to hover around 1.40 for a bit
Note
popup is imminent to 1.38, it's over sold now at the 1.20 level.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.