ADA's Target if Falling Wedge is Broken

If ADA is able to successfully break the falling wedge resistance we're looking at a huge target at approximately $2.02.

There will definitely be resistance along the way, so I've drawn out the potential scenarios and resistance lines that could impact the price action on the way up.

Commento:

Things are looking positive on our way back to $2. As I'm writing this update the price action is currently sitting at a minor resistance level at $1.35. You can see the 4 candles from 09Jul21 - 12Jul21 that create this resistance level.

We have easily passed through the $1.31 fib retracement level so we could see our next price decline back to this mark to test for support.

Overall, signs look positive!

Trade chiuso: obiettivo raggiunto:

ADA just tapped the $1.998 mark. While this isn't the exact target I had lined out I am content in calling right now a successful falling wedge breakout!