ADA - Breakout or FAKEOUT?

٢٦ سبتمبر

In many ways, ADA reminds of XRP.

And that's not a compliment... Big promises, cult following, failure to reclaim previous highs etc. Either way - ADA can and will still be traded, and profits can be made.

However, another worrisome thought is that (like XRP) many bagholders may be waiting to sell around every corner. This causes extremely tough resistance zones, and is often the reason why the price just cannot seem to get "back up there".

The clear higher lows after a bottom is a bullish sign - but is THIS the breakout? I don't know. This current resistance zone will tell. Either we smash through it and close daily candles ABOVE, or it wicks above and then drops hard to the lower side of .30's.

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