ADA's Support around 1.596 for Current Peak
Updated
Fibonacci indicates that ADA has reached the apex of the current phase of the current bull, which still looks healthy. For the 4 weeks to come, the price should decline. The bull should resume after.
This is also supported by the trend lines of March and September 2020, as well as volume profiling. Add to this that the latest rise was against the market's tide, which increases the short-term tension.
For the short term, it's a short. Otherwise, it's a long.
This is also supported by the trend lines of March and September 2020, as well as volume profiling. Add to this that the latest rise was against the market's tide, which increases the short-term tension.
For the short term, it's a short. Otherwise, it's a long.
Trade closed: target reached
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.