johnny_repass

ADA (daily) -- 1st sign of strength in months

BINANCE:ADAUSD   Cardano / US Dollar (calculated by TradingView)
*Disclaimer--I follow ADA but am not trading it currently and have no immediate intentions to do so.

1. Bearish impulsive wave. More often than not, impulsive waves are followed by milder corrective waves in the opposite direction.
2. But buyers came in strongly at support.
3. And instead of the anticipated corrective wave, a bullish impulse wave pushed ADA back up to test upper resistance and the trend line .
4 & 5. Price has so far failed to break resistance..

This is still a bear market but this is also the first time ADA has shown any sign of strength this year. Keep a close eye on price action and the upper trend line
The signs of strength in ADA and other cryptos failed to gain any real momentum.

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