Though $ADA performed very well during the last bull run, it lost 91% of its value and is still trading below its Daily MA 200. However, $ADA price is setting up nicely here. So let's surf the chart for what to expect in the near term,
Right now, it is trading below the immediate resistance at $0.38 while the key resistance lies on $0.42 - $0.43. Looking at the chart, breakout above the key resistance is the sweet spot (blue path) which shows a V-bottom pattern with a price target at $0.60, the next resistance. Failure to break can lead to correction below (Yellow path) so timing and patience is the key here, for either way, $ADA is brewing a good entry for both scenarios and due for a nice run off the lows.
Thanks for reading, surfin ends….
Right now, it is trading below the immediate resistance at $0.38 while the key resistance lies on $0.42 - $0.43. Looking at the chart, breakout above the key resistance is the sweet spot (blue path) which shows a V-bottom pattern with a price target at $0.60, the next resistance. Failure to break can lead to correction below (Yellow path) so timing and patience is the key here, for either way, $ADA is brewing a good entry for both scenarios and due for a nice run off the lows.
Thanks for reading, surfin ends….