ADA is currently within a descending triangle pattern, and it is trading below the 10/20 day moving averages. We can also see price has had a hard time sustaining buy pressure above the .236 fib level at 1230. On top of all of that, we have the 200 day moving average coming in which will act as resistance, so we could be setting up to retest lower. I suspect price could drop to the 50/100 day moving averages which would also coincide with the 0.5 fib level around 1090. RSI is currently sitting on support, but I suspect it will not hold.
Moving average guide:
10 MA in Orange
20 MA in Pink
50 MA in Green
100 MA in Yellow
200 MA in Red
Major resistance: Descending triangle resistance line, .236 fib level around 1230, and the 200 day moving average.
Area's of interest if the price drops: 0.5 fib level around 1092, and the 50/100 daily moving averages.
-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk.
If my post was helpful, and you'd like to support me and my technical analysis , donations are very much appreciated:
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Moving average guide:
10 MA in Orange
20 MA in Pink
50 MA in Green
100 MA in Yellow
200 MA in Red
Major resistance: Descending triangle resistance line, .236 fib level around 1230, and the 200 day moving average.
Area's of interest if the price drops: 0.5 fib level around 1092, and the 50/100 daily moving averages.
-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk.
If my post was helpful, and you'd like to support me and my technical analysis , donations are very much appreciated:
BTC: 3JA2z6FkxDhEHo5ncMEHHGLx78dzzwC1KH
ETH: 0x61DF878e5436530122f1A303e095dBd344502228
LTC: MVDbAhm2yoyCzeRnayMN61oZp75MZ5SZVj
Many thanks! :)
Note
Price has broken down out of the descending triangle as I had anticipated. So far, it has wicked off of the .382 fib level around 1155, and is currently trading right around the 200 MA on the 4-hour. If we get a bearish break on Bitcoin and crew, I expect our ultimate target around 1090 to be hit: Note
Very close to our targets: Trade closed: target reached
ADA all targets hit: 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
FTX US: ftx.us/
Sign up for Binance US here: binance.us/?ref=35000668
Sign up for Binance US here: binance.us/?ref=35000668
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.