ADA 1D Careful with Longs, on Cardano Chart Positive Fading

30 Jul 2021

The last time we made a global idea for the ADAUSDT pair was 3.5 months ago.
We wrote that there will still be an increase in ADA to $2, but for this we need to wait a bit. You can check the result below.

But now, looking at the global ADAUSD chart, we no longer like it.

The most positive scenario that is currently visible on the chart is an increase to $1.50. There we would recommend covering the longs and looking around. If sellers will be able to gain a foothold above $1.50, then super, you can re-enter the position with them and continue to hold a long.

But if the price drops to $1.20, then buyers will have to sweat a lot in order to raise the price up, and this will be the first sign of danger for longs.

If sellers push the price down to $1.10, this will be the second warning signal and will mean that buyers are losing control of the situation.
In this case, sellers will seize control over the ADAUSD market, and then the red scenario will fully activate.
The target of working off the fall, according to the red scenario, will be around $0.40.

Someone will say that this is a terrible and unrealistic scenario, while someone, on the contrary, will gladly rub their hands, because there may be a good opportunity to buy ADA cheaply again in their investment portfolio.
There is no 100% correct statement, but we must remember that everything is possible in crypto and only time will judge who was right and who was not)

Have a nice weekend everyone, which is coming)
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