Following the previous idea on ADX/USD, it has reached the upside target and rejected it. Pretty much the same is happening with Adex against the Bitcoin as it has approached the resistance at 25k satoshi.
This level has been acting as a support well as the resistance between August and September, so now the history may repeat itself. Not to mention that ADX/BTC reached the top of the descending channel and is very close to 2/1 Gann Fan trendline. 25k satosi support area could be acting as a strong resistance and could potentially send Adex back to the 200 Moving Average or the uptrend trendline.
On the upside note, break above the 25k resistance could prove that the trend up continues and then a buying opportunity might present itself. As for now, Adex remains a risky coin to hold.
This level has been acting as a support well as the resistance between August and September, so now the history may repeat itself. Not to mention that ADX/BTC reached the top of the descending channel and is very close to 2/1 Gann Fan trendline. 25k satosi support area could be acting as a strong resistance and could potentially send Adex back to the 200 Moving Average or the uptrend trendline.
On the upside note, break above the 25k resistance could prove that the trend up continues and then a buying opportunity might present itself. As for now, Adex remains a risky coin to hold.
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Adex could now reverse up after small correction
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