Cardano (ADA) trading cryptocurrency market update for Apr 26, 2019
Apr 27, 2019 --- Altcoins
ADABTC continued to move lower over the past 24 hours before tagging the lower EMA on the weekly chart below which sparked a small rally recently and has helped in keeping the current SCMR signal neutral, which is decent news for the bulls. So is the fact that the medium-term trendline and strong dynamic support are sitting right below the market while volume indications remain generally bullish, however the 50 SMA continues to fall, weaker dynamic resistance is still building just overhead, and the momentum oscillators have more recharging to do before a reversal, so there could easily be another leg lower to test the 0.0000xx area before the bulls return in earnest (hence the adjustments to the ProTrade setups).
Short term Members ProTrade - We have activated a small LONG position off of the 0.0000127 level with an adjusted stop around 0.0000xx and a target of 0.0000xxx.
Medium term Members ProTrade - We will consider a LONG position on a selloff back down to the 0.00000xx - 0.00000xx area with a stop around 0.00000xx and a target of 0.0000xx.
Long term Members ProTrade - We will consider a LONG position on a move back down to the 0.0000000 - 0.00000xx area with a stop around 0.00000xx and a target of 0.0000xx
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