Increasing bitcoin dominance barely has any impact on strong coins like Cardano ADA. The Price chart technically holds conditions and has entryways to take this comparatively less risky trade and earn some candies. Cardano ADA, since May 15 when it was above $2, is in a downtrend like every cryptocurrency coin and token. It is nearing the resisting trend line to break above it. If it does, this should be our buying opportunity after a retest, with an active stop loss right below the trend line (shown in graph). If the coin drops below the shaded value area with a sudden move to the blue line Local Support, this is the second entry point.
Remember to use stop-loss and watch out for fake-outs.
Risk Warning: The above is a personal market judgment based on published information and historical chart data on Tradingview, all analysis is only subjective. DYOR.
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Remember to use stop-loss and watch out for fake-outs.
Risk Warning: The above is a personal market judgment based on published information and historical chart data on Tradingview, all analysis is only subjective. DYOR.
Give us a thumbs up if you liked the idea and leave your thoughts, That's a big thank you for me.
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