TradingView
MMoney_Badger
Dec 22, 2021 6:32 PM

ADA/USD 4H Long

Cardano / TetherUSBinance

Description

In regards to ADA, not much has changed since the last TA that has been posted. We're still pricing in the so-called "good accumulation area" that ranges from 1.45$-1.04$. Furthermore, VPVR indicates the current price as a good buying point since we have the strongest support at 1.24$.
Looking at the smaller time frames as 1-4h, we've been forming a descending triangle that broke out in a bullish way. That can be also attributed to the BTC price surge as we were writing yesterday. Remember, if BTC makes a "big move" and then consolidates for a while, money start flowing to altcoins.
My suggestion would be, to start accumulating while you can. And keep your eye on the y1 and y2 trend lines
Comments
More