This S/R trend line has proven to be important for $ADA over the past year. The last time it touched the trend line in July 2021, ADA nearly 3x'ed. It's a bull market, so I will say LONG. But if this support fails, $SOL will flip $ADA, and will never look back.
Support line has held many times before, shall it continue? I think so. High volume at $39 should be enough support for a short term bounce. From there, the future is uncertain
If Datadog continues in this channel, it will retest resistance at $110, and either be rejected or go for new ATH's. The previous times it has entered the lower side of the bollinger band, it was sharply bought back. Expecting that within the next few days, if not, then I will be selling if it falls past channel support.
This idea steams with Tesla pulling back from here and not immediately jumping to new ATH's. If so, then idea is invalid. Based on past trends, Tesla will pullback here. Pullback probably will be to under $500, but will rebound and allow for consolidation to occur between $450-$590. New short-term POC will form around $580-590. From here, once it breaks...
When CMPS breaks these downward trends, they tend to pop. They recently just reached an ATH. Their next downward trend could start now, or above $51. Either way, when it enters and breaks the downward trend within the next week or two, i will be adding to my position
The 3 moves following an ATH are very similar. Will it break out again to an ATH as the EV sector shifts back to the market leader and away from the smaller competitors?
