Crypto_Terminal

ADA might have another leg lower before ROCKET!

BINANCE:ADABTC   Cardano / Bitcoin
  • Cardano has been in a brutal downtrend with the rest of the altcoin market
  • We continue to find resistance at S/R flip zones on every bounce and are currently forming a bearflag with decreasing volume on this move up
  • We could see a small bounce here up to the EMA before a break below the channel and test the long-term support OB
  • That would be the ideal area to play a long position
  • If we do get a break above the channel, the supply zone above will most likely stop ADA in its tracks

Thanks guys!
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