Technical Chart Analysis :
Summary: Cardano (ADA) recovered sharply after hitting a low at $0,06 on September 17t. The first major resistance we can find on $0,09 and in our opinion, the current level offers a decent upside potential.
Trading Idea: Buy ADA @0,077 with stop-loss below support level of $0,06. This means a stop-loss of approximately 14% below the current entry level and with a first target of $0,09. We have a profit/risk-ratio of 2 to 1 which is for me a nice ratio to trade. We can find first minor resistance at $0,0809 and the second at $0,09.
Note: – Always DOYR (Do Your Own Research). This is not an explicit advice and just for educational reasons. You can read more about our Price Action Course here: https://cryptoacademy.nl/price-action-trading/
Chart Commentary Disclaimer: Our views on the Charts is not advice or a recommendation, it is educational and general information only