More downside for Ada to raise cash for more upside
In terms of momentum, Ada does not have the conditions to rise, therefore, after breaking the short-term trend line, it can descend to the drawn supports, and by examining other conditions in these areas, we will decide whether the conditions are necessary for the price to rise or not.
Trade closed: target reached
As we expected, Ada reached the first support after breaking the short-term trend line, and after breaking it, it reached our target in the area of $0.2865. It does not seem to be supported at this price either, and it can reach the range of 0.2823, which is the trend line.Good luck
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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.