JSR44

ADA - Analysis What I see / Entry Signs

KRAKEN:ADAUSD   Cardano / U. S. Dollar
As previously seen ADA had made an attempt to test the 1.45-1.50 resistance zone and failed. thus, triggering the bearish movement we are currently in, driving prices lower and lower.

There is local resistance set at 1.37-1. 40 and local support set around 1.29.

1.29 I absolutely key in this movement as it was a low in the bull trend and responsible for 2 bullish impulses.

What I see/ Entry signals - First I am looking to see if the bearish trend is confirmed. To do this I am looking for a price to establish a new low both below 1.29 and somewhere around 1.25. If this is the case I will look toward the next support zone for a potential reversal (1.20-1.23).

Overall while the trend is not yet confirmed we can predict that price will continue to fall as price has set two lower lows and highs.

Best of Luck, Like/Follow for more.

Comments