ADA has shown resistance at 20 Monthly EMA 1025 sats.
The 4 hr chart has wicks to the upper side suggesting strong selling pressure above that point and rsi dropping from overbought zone. Pullback likely to test 900 sats again which is the previous breakout zone as daily volume shows strong selling yesterday in the resistance zone.
Need to close the weekly candle above 900 sats for a rally towards 1200 Sats.
But the Cardano against USD is at strong weekly resistance zone. Breaking higher from this point may not be possible. But as the hard fork is coming on July 29. Buy on pullback is a safer bet.
The 4 hr chart has wicks to the upper side suggesting strong selling pressure above that point and rsi dropping from overbought zone. Pullback likely to test 900 sats again which is the previous breakout zone as daily volume shows strong selling yesterday in the resistance zone.
Need to close the weekly candle above 900 sats for a rally towards 1200 Sats.
But the Cardano against USD is at strong weekly resistance zone. Breaking higher from this point may not be possible. But as the hard fork is coming on July 29. Buy on pullback is a safer bet.
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Daily zone breakout. Trade Cancelled
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