ADA - Bullish? Strong? What I See.Overall ADA has traded inside a bullish trend establishing higher highs/lows. While ADA is strong at the moment considerable resistance lies in its path to establish new highs.
Analysis: ADA is inside of a confirmed bullish trend and as such we expect price to continue to rise. However, ADA has found resistance from 1.38-1.40 zone being rejected twice. Relatively, this puts ADA in a high-risk position as its entering a resistance zone that it has been rejected from. However, ADA is still establishing higher lows which suggests continued upward momentum.
What I see: Overall I am looking for ADA to break past 1.40 then look for buy setups on a retest of either the trend or 1.40 itself. Furthermore, A target of interest is the 1.45-1.50 resistance zone. If ADA continues in its bull trend as it is integral to confirming a larger scale bullish movement.
Strategy: In this position, I look to buy on two conditions. A. ADA breaks the 1.40 and look for buy setups on a retest. B. Looking for buy setups on the retest of the trend.
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