Hey fellows,
ADA/USDT is trading in a very tricky price position and trend can go bullish or bearish. We are seeing a strong support at 1.91USDT price point and currently trading at 1.981 USDT and is in the consolidation phase since quite a time now.
Source: https://www.binance.com/en/trade/ADA_USDT
Above I have done a triangular trend and support analysis which we can see that the triangle is getting narrower and we may observe a big move sooner or later. I think we should wait for it to breakout 2.33 USDT price point before taking any long position and 1st target will be 2.6USDT and 2nd target 2.9USDT if bulls take the charge. On the other hand, if bears take the charge, we can see ADA on 1.45USDT price which is a good support.
The game is even for bulls and bears and it can go anywhere so traders are advised not to take any new positions (Long or Short) in this price point and wait for an initial move before taking any trade because after all, your trade move is yours and your profit & loss is also yours and no one to blame for any loss specially myself....
Best of Luck friends!
