Today’s analysis – ADAUSDT- trading at a key trade location where a rejection is probable,
Points to consider,
- Price Action Grind
- Local S/R Support (.382 )
- Swing high objective
- Oscillators control zone
ADAUSDT’s immediate price action is grinding towards a key that has rejected price once, a pullback will allow for a long entry.
The Local S/R is in confluence with the .382 Fibonacci, a respect of this level is highly probable.
The Swing High is current objective, exceeding this level will make the local high as target.
Both oscillators are trading in their respective control zones, remaining in these regions is indicative of strength in the market.
Local is on a declining, this is suggestive of an influx being imminent in the immediate term.
Overall, in my opinion, ADAUSDT is a valid long with the setup; price action is to be used upon discretion/ management.
Hope this analysis helps!
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