Is ADA still BULLISH? A short review!

4 апр. 2022 г.

Cardano(ADA) is trying to break up the value zone, but without success. Why is this happening and when will the price breakout this zone?

We see a volume decrease every time when price break the $1.15-1.22 zone and pullback after. What does this mean? The big players are trying to collect liquidity to open short positions, but there is less and less liquidity (less buyers on the breakout). Perhaps, there is a struggle between the two groups of BIG traders who wants to make PUMP or DUMP.

After the last collection of stop-losses, we expect a local pullback down. Here you can find a good entry point into a long position with a short stop and good risk to reward (RR).

If the price without a pullback starts to squeeze to the level of $1.22 - this is also a strong bullish signal!
Globally, it's still a bull market right now.

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P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.