Adausdtlong
ADA/USDT TRADE SETUP! READY TO PUMP 50%Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities.
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I have tried my best to bring the best possible outcome in this chart, Do not consider it as financial advice.
LONG #ADA/USDT
ENTRY: CMP and add more up to $0.44
SELL- 50%
STOP LOSS: $0.43
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ADAUSDT LongTime Frame: 4H
Symbol: ADAUSDT
Entry: 0.6417
TP: 0.7971
SL: 0.5345
Bias: Long
For this instrument , our bias is to go long. The decision is guided by the recent price action patterns. As we see the probability of momentum and volatility is not very strong .However, we can go for a small scale long trade.
ADA is this a breakout?ADA in downtrend for last 190 days and it seems it is breaking out of the descending channel.
We had expected a pump from 0.8 which was the untested low.
Analysis
The blue line is a trendline which is acting as great resistance and its from ATH
The green line acting as support line
The red line is the line which act as breakout resistance
History shows us there is 2 previous false breakout on ADA
Also 21 and 100 weekly moving average are also acting is resistance.
As it seems there are so many resistance factor on the chart so its safe to assume this another fake breakout and lets wait for a successful retest of the trendline.