ADA: 54 and a Half to 55 Cents Current Ceiling of Resistance

29 Jan 2024

Hi EVeryone! Cardano's current Ceiling of Resistance < According to the 2-Day and 3-Day time frames is the Yellow B-Band Basis in the 2-Day and 3-Day. Which is currently at $0.5450 to $0.55 Cents. The reason I say this is because the level of the Red Line in the 2-Day and 3-Day is still well below Yellow Level 50. Which means the probability is rather low to justify us going above the Yellow B-Band Basis for a sustained period of time. We're not ready to go above the Yellow B-Band Basis for a sustained period of time just yet.

There is a low probability of continuing over-extending above the Yellow B-Band Basis but we must say the probability of that occurring is low due to the current level of the Red Line in the 2-Day and 3-Day time frames.

2-Day is bottom right of center and 3-Day is bottom right corner in the chart below:





Hope this publication was helpful.

Happy Trading and Stay Awesome!

David

30 Jan 2024

Nota

UPDATE:

If $0.5450 to $0.5500 cents is our current ceiling of resistance for the next several days, our floor of support may be around $0.50 cents. So, we may range sideways between $0.5450 to $0.55 cents and $0.50 cents for several days.