Yuriy_Bishko

ADA, what to do if this support breaks?

BINANCE:ADAUSDT   Cardano / TetherUS
Today we will conduct a global and local analysis of the ADA. You can see on the left chart that the price is in a large trading range. At the same time, the price is near the lower boundary of the trading range. And this is not a very good signal.

If we look at the smaller timeframe, we can see that price has already tested the lower boundary of this range many times. This is also not a very positive signal, because with each test the support weakens and may break soon. In the case of a breakdown, there could be a good opportunity for selling.

Write in the comments all your questions and instruments analysis of which you want to see.

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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade.

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