Yesterday we broke out of an ascending triangle. The bulls still tried to fight back, but we just hit the exact target of 1.375 I mentioned earlier.
Now ADA is trying to climb back up, but we formed a downtrend and are now in a symmetrical triangle. There is also very big resistance at 1.44.
To me it is likely that we will break down further out of the triangle. The target lines up perfectly with the support at ~1.34 .
On a larger timeframe we are still in a descending triangle then. I think it is highly likely that we will retest the major trend/support line at ~1.25
At 1.25 there is a huge support, that has been holding for months already. If we get there, we are also at the end of a huge ascending triangle . I am VERY bullish then and will definitely open a long position.
I think that this will happen. On a longer time frame we are definitely bullish. But I think the pullback just isn't over yet. I get the hype and also want it to moon, but take this into consideration. Opening a long right now is probably not the best play. There is also not enough volume for a break upwards.
Just my perspective, do your own analysis!
Now ADA is trying to climb back up, but we formed a downtrend and are now in a symmetrical triangle. There is also very big resistance at 1.44.
To me it is likely that we will break down further out of the triangle. The target lines up perfectly with the support at ~1.34 .
On a larger timeframe we are still in a descending triangle then. I think it is highly likely that we will retest the major trend/support line at ~1.25
At 1.25 there is a huge support, that has been holding for months already. If we get there, we are also at the end of a huge ascending triangle . I am VERY bullish then and will definitely open a long position.
I think that this will happen. On a longer time frame we are definitely bullish. But I think the pullback just isn't over yet. I get the hype and also want it to moon, but take this into consideration. Opening a long right now is probably not the best play. There is also not enough volume for a break upwards.
Just my perspective, do your own analysis!