Hello everyone today we are looking on a bullish long set up on the Cardano/USDT pair:
1.We are right now seeing a prick up in volume on the daily time frame
2.Just broke above the previous high and through a resistance zone, ADA is picking up momentum
3.After the 0.049 Line there is no significant point of resistance straight until 0.061
4.We are hanging on to the trend line established since the 0.035 Level
With these following indicators I make my entry at 0.052 with a 5% trailing stop loss.
Targets for this trade are anywhere below the 0.061 Line preferably I would be looking to close my long at about 0.059 with the prospect of a sweet 15% gain.
If this trade were to go to the downside, I have chosen the 5% trailing stop loss as it is straight below the affor mentioned 0.49 resistance now turned support offering us a possible jumping pad for the price to retrace and possibly retest upwards.