Get started
Cardano / TetherUS

ADA still in downward channel - key resistance $1.0 and $1.1

By nothximgood
ADA is still trading well within it's downward channel from ATH's in August 2021. Movement direction still correlated with Bitcoin's price action, so if Bitcoin maintains upward movement I expect ADA to retest the $1 level and eventually the $1.1 level. Maintaining it's value above $1.1 will signal a shift out of the downtrend, at least on a short time frame until shown otherwise. If there is rejection from the $1 level, then I expect a retest of $0.90.

Cheers!
ADAcardanoERGOTrend Analysis
nothximgood

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.