Fractal Fib Fan Full of Fun on Cardano! (ADA)
Hello Friends, Traders, everyone,
In our last analysis, 1025 was identified as a probably buy zone with a target of 1300 Satoshi. That is still a good trade plan, but as you can see above, I have added some more hopeful targets. I don't have a plan for shorting ADA, simply I will be long or not in a trade at all. There just isn't really anything to give me a solid path for a short.
ADA seems to be quite responsive to the Fib Time Zone tool, as you can see above (pink dotted lines) we had a strong reaction to the 0.618 time zone which caused ADA to break out of the Fib channel and up to where we are now, retesting the channel support ~1150 ish area
That 0.618 timezone just so happened to coincide with the 50% resistance line, resulting in a nice pop and what is probably a new impulse wave that should carry us easily to Target 1 @ 1300.
Hopefully, momentum from this price action combined with healthy fundamentals as I've seen coming out of Cardano's corner will propel this coin to retest old highs....
If you aren't in ADA already, the green buy zone may be a good place to try.
Good luck, traders!
In our last analysis, 1025 was identified as a probably buy zone with a target of 1300 Satoshi. That is still a good trade plan, but as you can see above, I have added some more hopeful targets. I don't have a plan for shorting ADA, simply I will be long or not in a trade at all. There just isn't really anything to give me a solid path for a short.
ADA seems to be quite responsive to the Fib Time Zone tool, as you can see above (pink dotted lines) we had a strong reaction to the 0.618 time zone which caused ADA to break out of the Fib channel and up to where we are now, retesting the channel support ~1150 ish area
That 0.618 timezone just so happened to coincide with the 50% resistance line, resulting in a nice pop and what is probably a new impulse wave that should carry us easily to Target 1 @ 1300.
Hopefully, momentum from this price action combined with healthy fundamentals as I've seen coming out of Cardano's corner will propel this coin to retest old highs....
If you aren't in ADA already, the green buy zone may be a good place to try.
Good luck, traders!
Note
- might - turn around here
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