This 4-hour chart of ADA/USDT shows price making a strong recovery after a significant drop. However, it is now approaching a key resistance area—a Fair Value Gap (FVG) near the 0.618-0.65 Fibonacci retracement levels.
Here’s the potential setup:
🔹 FVG Resistance: Price is entering a liquidity zone where sellers might step in.
🔹 Possible Double Top Formation: A rejection at this level could lead to a bearish reversal, forming a distribution pattern before dropping.
🔹 Bearish Continuation? If the FVG acts as resistance, ADA could resume its downtrend, targeting lower support zones.
Will this resistance hold, or will ADA break through and continue higher? Drop your thoughts below! 🔥📉
Here’s the potential setup:
🔹 FVG Resistance: Price is entering a liquidity zone where sellers might step in.
🔹 Possible Double Top Formation: A rejection at this level could lead to a bearish reversal, forming a distribution pattern before dropping.
🔹 Bearish Continuation? If the FVG acts as resistance, ADA could resume its downtrend, targeting lower support zones.
Will this resistance hold, or will ADA break through and continue higher? Drop your thoughts below! 🔥📉
Trade ativo
Slowly going towards the Fibonacci + FVG?
Aviso legal
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.