ADA might have another leg lower before ROCKET!
- Cardano has been in a brutal downtrend with the rest of the altcoin market
- We continue to find resistance at S/R flip zones on every bounce and are currently forming a bearflag with decreasing volume on this move up
- We could see a small bounce here up to the EMA before a break below the channel and test the long-term support OB
- That would be the ideal area to play a long position
- If we do get a break above the channel, the supply zone above will most likely stop ADA in its tracks
Thanks guys!