ADA/USDT (waiting for upper zone to be filled)

6 Nov 2023

Looking here at Cardano (ADA), we see that it is showing a significant uptrend. The price is approaching a marked resistance zone, suggesting that traders should be prepared for potential price reversals near the resistance level. We are going to wait for the price to reach this resistance zone before making any trading decisions. (but most likely we are going to be short as we want to see a nice rejection from there.)

The RSI is currently signaling that the asset is in overbought territory, which could imply that a retracement or period of consolidation is coming soon.

Swallow Team

7 Nov 2023

Nota

After bullish momentum, we see a Very nice rejection from upper resistance zone

8 Nov 2023

Nota

Weakness is kicking on ADA coin already after that recent touch to upper resistance zone

27 Nov 2023

Nota

The price has reached the anticipated resistance zone, currently demonstrating strong holding power from sellers. Furthermore, the RSI exiting the overbought zone indicates the beginning of a potential bearish trend. This combination of factors—the resistance hold and the RSI shift—suggests that traders may start to see a downward trend in price. We are now waiting to see if we will reach that target support level of around $0.2550