$ADA/USDT 2D (#BinanceFutures) Descending channel on resistance

Cardano is facing 50MA / supply zone where it is likely to be rejected and resume the downtrend.

Current Price= 1.0813
Sell Entry = 1.0801 - 1.1777
Take Profit= 0.8446 | 0.6277 | 0.4231
Stop Loss= 1.3572

Risk/Reward= 1:1.25 | 1:2.2 | 1:3.09
Expected Profit= +25.18% | +44.40% | +62.34%
Possible Loss= -20.22%

Fib. Retracement= 0.5 | 0.618 | 0.786
Margin Leverage= 1x
Estimated Gain-time= 5 months

Tags: #ADA #ADAUSDT #Shelley #Alonzo #DPoS #PoS #SC #BSC #BC #DApp

Website: cardano.org

Contracts:
#Mainnet
#BEP20 0x3ee2200efb3400fabb9aacf31297cbdd1d435d47
#BEP2 ADA-9F4

Trade active:

All entries filled

Cardano is retesting upper-line of the channel, let's see if gets rejected.

Comment:

Up to +9.78% (1x) profit

Cardano got rejected as expected and lost back 50MA support, more downtrend seems likely.

Trade closed: target reached:

TP1 reached with +25.18% (1x) and +1.25R

Cardano is following the forecast quite precisely after a small fake-out, slowly but surely!
Lower targets are in play as long as it does not print a HH, SL updated to highest entry (1.1777)

Trade closed: target reached:

TP3 was reached with +62.52% (1x) and +3.09R

Cardano went for final target even faster than expected, trade is fully closed, waiting for reversal signs now!