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ADA breaks above strong resistance after over a year

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by COINS NEWS 108 Views

ADA breaks above strong resistance after over a year

In November 2021 Ada broke below under the Monthly MA7.
Today is the first time after a long downtrend where Ada is traded above this exact line.

Yellow = MA7 | Purple = MA25

Its not rare that if a strong resistance is broken it is followed by a strong push.
We even notice that Adas Volume is still super low compared to its past. Even on a strong day like this where we have 60Mill daily trading volume on Binance alone we still missing a "breakout" -Volume. This is possible to follow soon.
Another indicator for this would be: We broke not just MA7 on the Monthly - also on the Daily we are trading above EMA99/MA99 since some days. The only thing holding us back was EMA200 - but with the break above 0.4$ we also managed to break this line.

Trading above MA99

This was a lot of EMA/MA.
Conclusion: If you are a trading guy you probably know that if a Coin is traded steady above resistance its mostly a super bullish sign. I think it can be seen as a representation of the whole market right now :)
Have a good one guys.

submitted by /u/DREAMINDIVERX
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