🔥 ADA First Attempt Of Breaking Out

٢٦ مارس ٢٠٢٢

A couple of days ago I made an analysis on ADA. Here I stated that I found it too early to become bullish again and that a break out through the bearish dynamic resistance was needed in order to accept a more bullish narrative.

Since then, ADA has seen some very solid gains. Congratulations if you timed the bottom. I missed it because I'm still waiting for confirmation of the aforementioned.

Assuming that BTC will stay nautral/bullish, I'm expecting a first attempt of breaking out in the coming 2 days. Best case scenario would be a big green daily candle. Another possibility is an initial reversal from the resistance and a second attempt later next week.

Bullish target placed at the recent top around $1.6, bearish target at $0.8, most recent bottom.

Happy trading!