ADA (Cardano) parallel channel in 32%. Price reversal points.

The ADA project is very strong fundamentally with a good team.
Channel in 32% increments

The price is now at the upper boundary of the channel if there is a breakthrough and price fixing above the channel resistance line, then the growth potential is the width of the previous channel. + 32%

Entrance on a breakout or rollback after a breakthrough, depending on what your trading strategy and risk management are.

Another option, if this does not happen and the price turns around from resistance, in this case, trading inside the channel. Wait for the price to drop to the bottom of the channel, support will be confirmed and then the entrance. Movement again to the channel resistance + 25-30% depending on the entry point and again observe what kind of reaction the resistance level will be.

Comment:

There is a breakdown of resistance.

Comment:

After the breakdown of the channel resistance, the price could not fix above it and sank to the bottom of the previous channel. From the middle of the channel, the price reached the bottom of the channel with a pin bar (squeeze). This was necessary for the schedule and for the upward movement.
From the bottom of the channel, the price rose by 32% to the resistance of the channel and broke through it on the buyer's volume.

Comment:

ADA (Cardano) Breakdown of the accumulation channel.Pivot points

Trade closed: target reached:

+ 27% Note how the price hit precisely with sniper accuracy at level 690

Trade active:

Now the price is at the important zone of the mirror level which, from the development of the situation, can act as support or resistance. Channel pitch 30%. You can work in two directions.
More details on training / trading ideas.

Trade closed: target reached:

  + 43% from the pivot zone. The price again broke through the resistance channel. Now retest level. If the price consolidates above the resistance level, the upward movement will continue. In this situation, the price is in an upward local trend.

Comment:

The mirror level retest has been confirmed.
Secondary uptrend continues.

Trade closed: target reached:

+107%