ADA/USD - Time to be careful on ADA! 🟠

ADA was rejected by the $1.1 level as indicated by the Fib line at 78%.

Now we touched support and we're holding for now. We may range for a while, however there are some reasons why you should be careful here:

1. We're under ATH, so price will likely be rejected at first try
2. We are forming a massive bearish divergence on MACD+RSI
3. Volume is decreasing
4. We're about to cross on the negative side on MACD

Any of these for points should make you reconsider buying ADA. At best wait. Buying now is too risky in my opinion.

Take extra care if you plan to enter a long here. Use a stop loss and if we break the yellow parabola, then upward momentum will be postponed.

Trade safely!

Like and follow if you liked this idea! Also join my crypto community to stay in touch and watch my TA video on ETH and BTC from today!