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ADA/USDT Potential Upward Movement

Key Resistance Levels: 1.1674, 1.2000, 1.2050

Key Support Levels: 0.9797, 0.9575, 0.7079          

ADA/USDT Price Long-Term: Bullish

Daily Chart:

On the daily time frame, the price managed to break the daily resistance (now support) with a big bullish candlestick. This signals that the bulls are taking control and we might see the price moving further upward. The coin currently is testing the new support @ 0.9797 level.

ADA/USDT Medium-Term Trend: Bullish

1-hour Chart:

On the 1-hr time frame the price is trading within a flag formation where the price is pushed to the downside toward the new daily support. We have a confluence zone between the 50% Fibonacci retracement level, and the new support. This might lead to a move upward to the 1.1661 mark.

Signal Idea:

Buy Limit @ 0.9790

TP 1 @ 1.1661

TP 2 @ 1.2000

Stop Loss @ 0.9223

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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