ADA CARDANO 17/08/21ADA
It has been showing a lot of strength in recent days against the volatile BTC market.
ADA lies within a symmetrical triangle.
See that we pointed out in graph 2 possible movements.
The buy zone is highlighted in green if prices return to this level and show any reversal, it's buy!
Another possibility is that by touching the bottom of the triangle and making a reversal signal, we can also think of taking a position.
We remain optimistic about ADA and its potential.
Patience and strategy....
I hope I helped in some way.
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⚠️Disclaimer: The above comments reflect solely my opinion, this is not a buy or sell recommendation. Just a series of published studies, so that together with the community we can discuss operational tactics and techniques.
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Trade ideas
ADA approaches all time high 🤩Cardano is looking to upgrade the network in the near future, bringing smart contracts to Cardano via a hard fork combinator (HFC) event.
“Any growth in the price of cryptocurrencies is either directly caused by positive news driving up sentiments among buyers or a growth in tandem with the overall market trend,” Yuri Mazur.
💡Don't miss the great buy opportunity in ADAUSDTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (1.610).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ADAUSD is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 81.
Take Profits:
TP1= @ 1.740
TP2= @ 1.831
TP3= @ 1.949
TP4= @ 2.148
TP5= @ 2.467
SL= Break below S2
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ADA ACCUMULATION PHASEAda is in complete accumulation phase.
Accumulation is to collect or increase the amount of something. Accumulation can refer more narrowly to increases in the position size of an asset that is built up over multiple transactions. Accumulation can also refer to the overall addition of positions to a portfolio.
In technical analysis , accumulation points to a general increase in buying activity in an asset. In this case, the asset is said to be "under accumulation" or "being accumulated."
ADA has been observing the expected fall of each rising wedgewith one exception, each rising wedge has respected the last green candle lower body close as the target price once if falls out of the wedge. there was one notable exception when the redistribution fell to a lower level. on a macro basis, it makes sense for the tokens/coins to spend some more time down in this accum range since the whales are still figuring out their game. IMO - we won't see another real "bear market" for crypto. too many eyes on it now, too mainstream.






















