ADA at demand zone.
Hello to everyone,
ADA is testing once again the psychological support at $1.00. This level was tested successfully several times in the past. A bullish confirmation will come after the bearish trendline break out and a stronger signal after the resistance break - near $1.50.
The current price gives a high R/R ratio for long positions.
Current tensions between Russia and Ukraine may drag markets even lower but I don’t believe this can affect the markets in the long run.
If the support level break, I think it will be for a short period of time – maybe a few days.
Market seems healthy, so be careful with your short positions.
Stay to your plan & always do your own research.
ADA is testing once again the psychological support at $1.00. This level was tested successfully several times in the past. A bullish confirmation will come after the bearish trendline break out and a stronger signal after the resistance break - near $1.50.
The current price gives a high R/R ratio for long positions.
Current tensions between Russia and Ukraine may drag markets even lower but I don’t believe this can affect the markets in the long run.
If the support level break, I think it will be for a short period of time – maybe a few days.
Market seems healthy, so be careful with your short positions.
Stay to your plan & always do your own research.
Related publications
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.