ADAUSDT correction wave continues ?
ADAUSDT had a good bullish rally until it reached around 2 and I think its healthy to have a correction
here we had a short bullish trend line , supporting price for a few days
price broke it to the downside and went lower
it reached a good support zone on 1.90 then we had a pull back to our shorter trend line
we had another longer trend line with lower momentum since the price started going up
in these last few days price increased it's distance with the longer trend line
now that our shorter trend line became a resistance after pull back , I think we can have a new correction wave down to the longer trend line
the zone that I pointed on the chart with a falling arrow , is where my longer trend line
and 38% fibo correction of last wave meet and it's a powerful supporting zone for price to reach and resume bullish trend again
THIS IS JUST AN ANALYSIS...
here we had a short bullish trend line , supporting price for a few days
price broke it to the downside and went lower
it reached a good support zone on 1.90 then we had a pull back to our shorter trend line
we had another longer trend line with lower momentum since the price started going up
in these last few days price increased it's distance with the longer trend line
now that our shorter trend line became a resistance after pull back , I think we can have a new correction wave down to the longer trend line
the zone that I pointed on the chart with a falling arrow , is where my longer trend line
and 38% fibo correction of last wave meet and it's a powerful supporting zone for price to reach and resume bullish trend again
THIS IS JUST AN ANALYSIS...
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