ADA/USDT : Targeting $2.9 by breaking above the falling wedge !
ADAUSDTHello everyone 😃
Before we start to discuss, I would be glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it !
#ADA has formed a falling wedge, Which have the bullish bias after break above the pattern.
Also now, It shows that we experienced one rally before by breaking above the falling wedge !
Now it's happening again and based on the wedge's length, It's very expected for #ADA to reach $2.90 after breakout confirmation.
- Have to mention that the movement was uptrend so we'll facing a uptrend continuation...
📊 Also we have more bullish factors on technical indicators :
- MACD is having a bullish crossover on the lines and histogram has broke above the bullish zone gain.
- Volatility is trying to quit the sell limit zone after 44 days of accumulation there !
I expecting the reversal for bullish in buy limit zone just like as the lower limit zone.
- EMA200 is supporting the movement and EMA100 is getting broken by current daily candle.
- Based on VPVR, The last major resistance is standing at $2,16, If bulls manage to break above it, Then it'll surge to the mentioned targets !
📚 Conclusion :
#ADA is moving in a falling wedge with uptrend continuation after breakout, There are two major zones for supports and resistances !
- The lower blue zone is acting as a stiff support zone and higher level located at $2.16 is the major resistance line/zone before $2.90 based on VPVR's indicator.
You have to wait for a hold confirmation before entering the position on #ADA.
🔴 Any break confirmation below the mentioned blue support zone, Will invalidate the bullish bias for # ADA !
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Have a good day!
Helical_Trades
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