ADAUSDT
If Cardano can break and close over $2.12 range on the daily we might finally get the breakout we’ve been waiting on. ADA cycles massive breakouts with weeks of consolidation. Looking also at the weekly chart it might still be a little too early. I have started opening swing positions at $2. The $2.12 level area serves as the confluence of EMA resistance and HVN area so it’ll take some decent bullish volume to push it over.
Entry: 2.01
Plan: Needs to break over the 42.32 resistance area to really breakout. Looking at the weekly chart it looks as if we may need another 1-3 weeks of consolidation before we see another major breakout. so, there is a chance this will fail. Overall, the crypto market looks primed for a ADA run. Let's see!
SL: if we hit a lower low around $1.93 I will cut the trade and look for entries for a short position.
Comment:
Weekly Chart: has room to consolidate still but looks like it may try for a breakout.
Comment:
ADA touched $2.32 resistance. We've seen a nice breakout move with increasing volume on smaller time Frame charts. let's see if we can push through the LVN and see $2.60 next!
Comment:
big sell off from the $2.32 price point. I sold 1/4th at $2.32 and holding the rest still. Watching the charts to see if this is going to be a true sell off or not.
Trade closed: stop reached:
Sorry for the long delay. ADA had a nice fake breakout hitting that $2.32 resistance. I only sold 1/4th position there and then we had a nice retrace and dump lol closed position around $1.95.