$ADA/USDT 2D (#BinanceFutures) Descending channel on resistance
Updated
Cardano is facing 50MA / supply zone where it is likely to be rejected and resume the downtrend.
Current Price= 1.0813
Sell Entry = 1.0801 - 1.1777
Take Profit= 0.8446 | 0.6277 | 0.4231
Stop Loss= 1.3572
Risk/Reward= 1:1.25 | 1:2.2 | 1:3.09
Expected Profit= +25.18% | +44.40% | +62.34%
Possible Loss= -20.22%
Fib. Retracement= 0.5 | 0.618 | 0.786
Margin Leverage= 1x
Estimated Gain-time= 5 months
Tags: #ADA #ADAUSDT #Shelley #Alonzo #DPoS #PoS #SC #BSC #BC #DApp
Website: cardano.org
Contracts:
#Mainnet
#BEP20 0x3ee2200efb3400fabb9aacf31297cbdd1d435d47
#BEP2 ADA-9F4
Current Price= 1.0813
Sell Entry = 1.0801 - 1.1777
Take Profit= 0.8446 | 0.6277 | 0.4231
Stop Loss= 1.3572
Risk/Reward= 1:1.25 | 1:2.2 | 1:3.09
Expected Profit= +25.18% | +44.40% | +62.34%
Possible Loss= -20.22%
Fib. Retracement= 0.5 | 0.618 | 0.786
Margin Leverage= 1x
Estimated Gain-time= 5 months
Tags: #ADA #ADAUSDT #Shelley #Alonzo #DPoS #PoS #SC #BSC #BC #DApp
Website: cardano.org
Contracts:
#Mainnet
#BEP20 0x3ee2200efb3400fabb9aacf31297cbdd1d435d47
#BEP2 ADA-9F4
Trade active
All entries filledCardano is retesting upper-line of the channel, let's see if gets rejected.
Note
Up to +9.78% (1x) profitCardano got rejected as expected and lost back 50MA support, more downtrend seems likely.
Trade closed: target reached
TP1 reached with +25.18% (1x) and +1.25RCardano is following the forecast quite precisely after a small fake-out, slowly but surely!
Lower targets are in play as long as it does not print a HH, SL updated to highest entry (1.1777)
Trade closed: target reached
TP3 was reached with +62.52% (1x) and +3.09RCardano went for final target even faster than expected, trade is fully closed, waiting for reversal signs now!
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