ADA LTF Long Trade

Jun 22, 2023

• ADA managed to get above the 0.29 USD resistance level.
  
• This is the first promising signal that maybe ADA’s downtrend is over.
  
• Currently ADA is oversold on the LTF. That doesn’t mean it can’t go higher without a meaningful retrace.
  
• ATM, ADA doesn’t look like it has the power to push up, at least IMO. Therefore, I will for a retrace to demand zone between 0.275 – 0.283 to consider a long trade.
  
• This is trade no.2 from my previous ADA idea, linked below.
  
• If you took trade no.1, congratulations; you are in profit, protect it.
  

NFA.
What do you think? Please share in the comments.
Best wishes to all.

Jun 23, 2023

Note

ADA pushed above the range high but it doesn't look strong enough to go higher. my assessment is still valid, imo. I think ADA will retrace a bit to the demand zone before it pushes higher.