ADA’s moving averages have formed a bearish crossover on the 2-hour chart, with the fast line crossing below the slow line, signaling weakening short-term momentum. To trade with this pattern, wait for the price to rebound toward the moving-average cluster and enter a short when it fails to break through. Add to the position if it breaks below the previous low, and look for support levels one by one as downside targets.
The current price is 0.2536. Around 0.29 overhead, moving-average resistance coincides with a cluster of previous buyers who are underwater; this is also the level that would invalidate the pattern. Below, 0.227 and 0.213 are two successive support levels. Set the parameters as follows: short if the price meets resistance in the 0.26–0.27 range, place the stop-loss above 0.29, and set the first target at 0.227. If that level breaks, look toward 0.213. If the 2-hour candle closes back above 0.27, the bearish crossover setup is invalidated; stand aside and wait for a new setup.
#ADA
The current price is 0.2536. Around 0.29 overhead, moving-average resistance coincides with a cluster of previous buyers who are underwater; this is also the level that would invalidate the pattern. Below, 0.227 and 0.213 are two successive support levels. Set the parameters as follows: short if the price meets resistance in the 0.26–0.27 range, place the stop-loss above 0.29, and set the first target at 0.227. If that level breaks, look toward 0.213. If the 2-hour candle closes back above 0.27, the bearish crossover setup is invalidated; stand aside and wait for a new setup.
#ADA