ADA looked like it was reversing to the upside A few days ago. However mind had changed when I started to see a continuation triangle forming clearly pointing to the downside, after repeatedly failing to break through 1.143USD.
ADA recently broke the continuation triangle to the downside only to be saved by BTC and the other alts rising in price simultaneously. Normally that condition would be bullish considering we rose through 1.15 to 1.179 the next resistance level, however ADA is lagging the other alts and will likely continue sideways in the meantime. To be clear we are still in a bullish bias but ADA is being dragged up with little momentum. The measured move of breaking the triangle to the upside is 1.243USD. The next strong resistance after 1.179USD is 1.29USD, it is likely we get trapped between these two levels before resuming again.
Happy trading
ADA recently broke the continuation triangle to the downside only to be saved by BTC and the other alts rising in price simultaneously. Normally that condition would be bullish considering we rose through 1.15 to 1.179 the next resistance level, however ADA is lagging the other alts and will likely continue sideways in the meantime. To be clear we are still in a bullish bias but ADA is being dragged up with little momentum. The measured move of breaking the triangle to the upside is 1.243USD. The next strong resistance after 1.179USD is 1.29USD, it is likely we get trapped between these two levels before resuming again.
Happy trading