ADA LTF Long Trade
- ADA managed to get above the 0.29 USD resistance level.
- This is the first promising signal that maybe ADA’s downtrend is over.
- Currently ADA is oversold on the LTF. That doesn’t mean it can’t go higher without a meaningful retrace.
- ATM, ADA doesn’t look like it has the power to push up, at least IMO. Therefore, I will for a retrace to demand zone between 0.275 – 0.283 to consider a long trade.
- This is trade no.2 from my previous ADA idea, linked below.
- If you took trade no.1, congratulations; you are in profit, protect it.
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What do you think? Please share in the comments.
Best wishes to all.
Comment:
ADA pushed above the range high but it doesn't look strong enough to go higher. my assessment is still valid, imo. I think ADA will retrace a bit to the demand zone before it pushes higher.
