🐋 $ADA broke below MA50 on the daily chart (0.2282).
The daily moving average is a line many swing traders watch, but first, it helps to understand what it is.
When deciding whether the price is above or below it, many people use the daily closing price. It’s not uncommon for the price to cross it intraday and then move back.
A price moving back above a long-term moving average is often seen as one sign that the trend is strengthening, while a move below it is often interpreted as weakness. However, a single crossover isn’t enough to draw a firm conclusion.
Don’t chase trades during the most volatile minutes. Wait for the candlestick to settle before deciding.
#ADA
The daily moving average is a line many swing traders watch, but first, it helps to understand what it is.
When deciding whether the price is above or below it, many people use the daily closing price. It’s not uncommon for the price to cross it intraday and then move back.
A price moving back above a long-term moving average is often seen as one sign that the trend is strengthening, while a move below it is often interpreted as weakness. However, a single crossover isn’t enough to draw a firm conclusion.
Don’t chase trades during the most volatile minutes. Wait for the candlestick to settle before deciding.
#ADA