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ADA - Daily Chart ✅ADA is very close to its solid support areas. There is one support level, which can hold the price up in case of sudden crashes. There are two resistance areas on the way up, which we need to break before making any moves to form a bullish channel. There are Sell Volumes in the market for Bitcoin, which shows that the price might go lower or consolidate before pumping back up. So we need more buy volumes to open long positions. There are no other short-term support levels for Cardano, so watch out it's very risky. Use this chart as your trade setup for now; I'll keep it updated. Current Market Price: $1.493 Let me know your ideas. Good luck.
by ShawnMCR
9
ADA: dud or buy?ADA: Dev delays are an issue. From a chart perspective, we were holding an important level for the last week. The $1.778 level which was the halfback of the large move from August to October. But we lost that today (keeping in mind that "today" in terms of cryptoworld is not yet over. Not until 1800cst when the daily candle closes so take all analysis with a grain of salt). From a fib perspective, losing that halfback gives us ONLY just the 0.382 level at $1.5598. This level is essentially the last stopgap before a true trend reversal is inevitable. It is also an area that large investors, whales, and institutions see as a place to load up on long-term holds. All this to say that I won't cut it unless we lose the 0.382 level and I will most likely add at that level. Theory: "blood in the streets and all that".... If we lose that level on a meaningful timeframe such as the daily or the weekly with volume, I will cut my losses and look to get in around a buck again. It is hard watching everything else go up while a big investment stagnates, but this is investing and this is the game we play.
BINANCEUS:ADAUSD
by nurseblood
1