ADA’s key April support zone of $0.3700 - $0.3760 (cyan) was flipped to resistance on 8 May.
So far, ADA has seen two price rejections at this level in the past two days.
A pullback retest at the same level and confirmed downtrend could offer shorting opportunity, targeting the key January/February resistance level at $0.3470.
At the time of publishing, the RSI faced rejection at the 50 mark, while OBV has declined since mid-April.
Entry: $0.3700
Target: $0.3470
Stop-Loss: $0.3811 (above the resistance zone)
RR: 2
So far, ADA has seen two price rejections at this level in the past two days.
A pullback retest at the same level and confirmed downtrend could offer shorting opportunity, targeting the key January/February resistance level at $0.3470.
At the time of publishing, the RSI faced rejection at the 50 mark, while OBV has declined since mid-April.
Entry: $0.3700
Target: $0.3470
Stop-Loss: $0.3811 (above the resistance zone)
RR: 2
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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.
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.