ADA has been trading bearish since it hit $3 all the way back in September. Compared to then, it lost over 50% of its value. This makes ADA a potential winner in the mid-term. After a massive sell-off, big pumps are more likely to occur.
With ADA on the verge of breaking through the downtrend, we might see such a pump. My main area of interest is the $1.40 resistance. A daily close above there could signal a prolonged bullish move. Target at $1.75. Be aware that a rejection of the bearish trend line could indicate a move to $1.20 or so.
Note. Always do your own research analysis too. (Happy trading)
With ADA on the verge of breaking through the downtrend, we might see such a pump. My main area of interest is the $1.40 resistance. A daily close above there could signal a prolonged bullish move. Target at $1.75. Be aware that a rejection of the bearish trend line could indicate a move to $1.20 or so.
Note. Always do your own research analysis too. (Happy trading)
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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.