ADAUSDT is inside an ascending channel
ADAUSDT is currently trading within an ascending channel pattern. This pattern is characterized by an upward sloping support line and a parallel resistance line. According to Plancton's rules for long positions, a breakout from the resistance line could signal a potential bullish continuation.
Traders following Plancton's rules would closely monitor the price action of ADAUSDT, specifically looking for a decisive breakout above the resistance line of the ascending channel. A breakout occurs when the price convincingly surpasses the resistance level, indicating a shift in market sentiment and the potential for further upward movement.
If the breakout from the resistance line occurs, traders adhering to Plancton's rules may consider initiating long positions in ADAUSDT. The possible target area for this trade, as mentioned in accordance with Plancton's rules, is around the $0.43 price level. This target is based on previous price levels or technical indicators that may suggest a potential area of interest or resistance.
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Follow the Shrimp 🦐
Keep in mind.
Traders following Plancton's rules would closely monitor the price action of ADAUSDT, specifically looking for a decisive breakout above the resistance line of the ascending channel. A breakout occurs when the price convincingly surpasses the resistance level, indicating a shift in market sentiment and the potential for further upward movement.
If the breakout from the resistance line occurs, traders adhering to Plancton's rules may consider initiating long positions in ADAUSDT. The possible target area for this trade, as mentioned in accordance with Plancton's rules, is around the $0.43 price level. This target is based on previous price levels or technical indicators that may suggest a potential area of interest or resistance.
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Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ Black structure -> <= 1h structure.
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