$ADA/USDT 2D (#BinanceFutures) Descending channel on resistance
Cardano is facing 50MA / supply zone where it is likely to be rejected and resume the downtrend.
Current Price= 1.0813
Sell Entry = 1.0801 - 1.1777
Take Profit= 0.8446 | 0.6277 | 0.4231
Stop Loss= 1.3572
Risk/Reward= 1:1.25 | 1:2.2 | 1:3.09
Expected Profit= +25.18% | +44.40% | +62.34%
Possible Loss= -20.22%
Fib. Retracement= 0.5 | 0.618 | 0.786
Margin Leverage= 1x
Estimated Gain-time= 5 months
Tags: #ADA #ADAUSDT #Shelley #Alonzo #DPoS #PoS #SC #BSC #BC #DApp
Website: cardano.org
Contracts:
#Mainnet
#BEP20 0x3ee2200efb3400fabb9aacf31297cbdd1d435d47
#BEP2 ADA-9F4
Current Price= 1.0813
Sell Entry = 1.0801 - 1.1777
Take Profit= 0.8446 | 0.6277 | 0.4231
Stop Loss= 1.3572
Risk/Reward= 1:1.25 | 1:2.2 | 1:3.09
Expected Profit= +25.18% | +44.40% | +62.34%
Possible Loss= -20.22%
Fib. Retracement= 0.5 | 0.618 | 0.786
Margin Leverage= 1x
Estimated Gain-time= 5 months
Tags: #ADA #ADAUSDT #Shelley #Alonzo #DPoS #PoS #SC #BSC #BC #DApp
Website: cardano.org
Contracts:
#Mainnet
#BEP20 0x3ee2200efb3400fabb9aacf31297cbdd1d435d47
#BEP2 ADA-9F4
Trade active
All entries filledCardano is retesting upper-line of the channel, let's see if gets rejected.
Note
Up to +9.78% (1x) profitCardano got rejected as expected and lost back 50MA support, more downtrend seems likely.
Trade closed: target reached
TP1 reached with +25.18% (1x) and +1.25RCardano is following the forecast quite precisely after a small fake-out, slowly but surely!
Lower targets are in play as long as it does not print a HH, SL updated to highest entry (1.1777)
Trade closed: target reached
TP3 was reached with +62.52% (1x) and +3.09RCardano went for final target even faster than expected, trade is fully closed, waiting for reversal signs now!
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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.