A mere two days ago I made an analysis on ADA where I argued that the break out through the $1.5 resistance would lead to a bullish move towards $1.85.
As predicted, the $1.85 area held strong as a resistance. I'd be getting more worried if we'd push towards $2.2, because that would indicate that we'd see a much stronger correction in case we got one.
The current minor bearish reversal is fine. The market has been going straight up for almost 10 days now, so a day or 2-3 of sideways/downward movement is a good opportunity for the market to catch its breath and give other investors the opportunity to step into the market.
Main areas of reversal are the $1.63 and $1.5 support areas. I'm expecting ADA to resume the bullish move in the near future.
Happy trading!
As predicted, the $1.85 area held strong as a resistance. I'd be getting more worried if we'd push towards $2.2, because that would indicate that we'd see a much stronger correction in case we got one.
The current minor bearish reversal is fine. The market has been going straight up for almost 10 days now, so a day or 2-3 of sideways/downward movement is a good opportunity for the market to catch its breath and give other investors the opportunity to step into the market.
Main areas of reversal are the $1.63 and $1.5 support areas. I'm expecting ADA to resume the bullish move in the near future.
Happy trading!
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