$ADA is pulling back to key support after rejecting 0.28! Will the 7-period MA hold, or are we going lower? đđĄïž
Entry: đŻ 0.2500 - 0.2580 (Current support retest / sitting right on the 7-period MA)
SL: đ 0.2350 (Below the 25-period MA at 0.2387 and the recent breakout base)
TP: đ° TP1: 0.2824 | TP2: 0.3000
Reason: $ADA had a strong rally from 0.1894 to a local high of 0.2824 đ. It faced a sharp rejection and is currently down -5.43%, pulling back to the yellow MA(7) at 0.2557. The important thing is that it's holding above the purple MA(25) at 0.2387, which is trending up as dynamic support. If the bulls defend this 0.25 zone, we could see a bounce back toward 0.28. If it loses 0.238, the uptrend is broken and we likely retest lower.
Am I wrong? Tell me below đ
Entry: đŻ 0.2500 - 0.2580 (Current support retest / sitting right on the 7-period MA)
SL: đ 0.2350 (Below the 25-period MA at 0.2387 and the recent breakout base)
TP: đ° TP1: 0.2824 | TP2: 0.3000
Reason: $ADA had a strong rally from 0.1894 to a local high of 0.2824 đ. It faced a sharp rejection and is currently down -5.43%, pulling back to the yellow MA(7) at 0.2557. The important thing is that it's holding above the purple MA(25) at 0.2387, which is trending up as dynamic support. If the bulls defend this 0.25 zone, we could see a bounce back toward 0.28. If it loses 0.238, the uptrend is broken and we likely retest lower.
Am I wrong? Tell me below đ