ADAUSDT Supply Zone| Price Action| Local S/R| Swing High

BINANCE:ADAUSDT   Cardano / TetherUS
Evening Traders,

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 Fibonacci Confluence )
- Swing high objective
- Oscillators bullish control zone
- Declining Volume

ADAUSDT’s immediate price action is grinding towards a key support zone 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 bullish control zones, remaining in these regions is indicative of strength in the market.

Local Volume Profile 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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Good idea
+1 Reply
AzizKhanZamani Alien_anderson
@Alien_anderson cheers 🥂
Thanks for nice point of view 🦐💪🏻
+1 Reply
AzizKhanZamani plancton0618
@plancton0618 🍻🍻
good deal, I like that, excellent setup for ADA traders.
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