Don't Miss This 8% Trade Opportunity on ADA/USDT

In this idea I will explain why I am bullish on ADA right now, and suggest a trade set-up based on technical analysis. There is a nice 8% trade opportunity waiting for us here on ADA/USDT.

After the big drop of yesterday where all altcoins + bitcoin dumped hard, we are seeing great recoveries at the moment. ADA/USDT just broke out of this descending parallel channel, which is a very bullish signal.

I expect it to recover further, which is a scenario that can be monetized with a long position. For our take-profit I suggest a relatively short trade of max one day where we look at the previous high of ADA.

The horizontal resistance zone of ~0.8700 is a great place to leave the trade, which results in a ~8% profit. What a fantastic trade opportunity!

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- Trading Guru

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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!