ADAUSD Rejected Three Attempts to Break Key Support

#ADAUSD bulls holding strong at the $0.38 demand zone after three consecutive attempts to break below. But that's not all, a recent breakout above the downtrend trendline has added fuel to the bullish pattern. This is a clear indication of complete bullish domination, and we're excited to see where it goes from here.

But we're not jumping in just yet. We need to see a daily close above the current resistance before making our move. And when that happens, we'll be on the lookout for a buy trade setup, targeting a potential 10-15% profit.

Stay tuned for updates on #ADA and other exciting coins as we continue to monitor the market for potential trading opportunities. This is a time to be bullish, and we're ready to ride the wave!

Comment:

#ADAUSDT failed to confirm the bullish trend and formed a new lower low, leaving traders wondering about its next move. The key question now is whether #Cardano will close below the neckline of the Head and Shoulders pattern on the daily chart. If it does, we might see a further decline in price.

Trade closed: target reached:

💎After a confirmed daily close below the neckline of the Head & Shoulders pattern, the price has successfully reached our previously projected downside target, aligning perfectly with our meticulous analysis.

💎 Yesterday, we witnessed a significant rebound from the established low, providing a glimmer of hope that the decline may have come to an end. However, today's market activity paints a different picture with yet another downward spike. In light of these developments, it becomes paramount to closely observe today's daily closing price.

💎 A decisive close above the support level would ignite a surge in bullish sentiment, potentially ushering in a period of heightened upward pressure. Conversely, a daily close below the support level would serve as a critical cautionary signal for prospective #Cardano buyers.

💎 As esteemed members of our Paradise Club, rest assured that we remain steadfast in our commitment to keeping you well-informed about the latest market dynamics.