A rising channel can be identified in ADA/USDT.
If the current breakout turns out to be a false break with a high timeframe close back into the channel range we could head back to the support levels identified on the chart.
- Support level 1 corresponds with the mid line of the channel.
- Support level 2 corresponds with the bottom line of the channel.
Bearish divergence can be found on the 4H and daily chart RSI supporting this short term downtrend.
Disclaimer
The author of this text is not an investment advisor. The preceding content is intended to be used for informational and educational purposes only.
It is not an advice or inducement for the purchase or sale of the products mentioned. Before making any investment based on your own personal circumstances,
it is very important to do your own research and analysis and also take independent financial advice from a professional to verify any information provided here.
If the current breakout turns out to be a false break with a high timeframe close back into the channel range we could head back to the support levels identified on the chart.
- Support level 1 corresponds with the mid line of the channel.
- Support level 2 corresponds with the bottom line of the channel.
Bearish divergence can be found on the 4H and daily chart RSI supporting this short term downtrend.
Disclaimer
The author of this text is not an investment advisor. The preceding content is intended to be used for informational and educational purposes only.
It is not an advice or inducement for the purchase or sale of the products mentioned. Before making any investment based on your own personal circumstances,
it is very important to do your own research and analysis and also take independent financial advice from a professional to verify any information provided here.
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Price is returning into the range.