BITMEX:ADAM18   Cardano / Bitcoin Fri, 29 Jun 2018 12:00:00 GMT Linear Futures Contract
ADA appears to be breaking out its downtrend, approaching new highs on the daily chart . However, this is likely due to the upcoming Huobi exchange listing to take place on April 17th at 14:30 UTC . In the short-term ADA may run up, but it looks prime for a retrace back down to the 2500-2700 sat area. A leveraged short could be placed on this trade with an entry at 3400-3500 sats and an exit around that 2500-2700 area.

From a indicator standpoint, there is a bearish divergence on the daily and 4 hour chart signaling a potential retrace. Additionally, the TD Sequential is painting a 13 on the 4 hour chart as well as a 9 on the daily chart .

Should we see ADA retrace, it will be crucial for ADA to hold this support level as its next support range is much, much lower (sub 1000 sat range).
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