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Crypto Twitter Trader Shares Ideal Entries for ADA Long Trade

CryptoMichNL reveals his ultimate buy targets for Cardano (ADA) as the cryptocurrency shows potential for a long trade setup.
Published on 2022-09-26

Ideal Buy Targets for ADA Revealed

CryptoMichNL, a prominent figure in the crypto community, has shared his ideal buy targets for Cardano (ADA), highlighting the range of $0.30 to $0.375 as the ultimate area to accumulate the token. This insight comes as ADA's price currently trades at $0.4402, reflecting a 2.48% drop over the past 24 hours.

Price Action and Analysis

Despite the short-term decline, ADA's weekly performance remains optimistic, with a 0.67% increase in value. The daily trading volume has surged by 8.65%, reaching $576,892,777, indicating heightened activity in the market.

From a technical perspective, the daily chart shows ADA struggling below the 9 EMA line, which is positioned bearishly below the 20 EMA. This suggests that selling pressure has dominated over the past few days, potentially leading to further downward movement if key levels are not reclaimed.

However, should ADA fail to reach the $0.30-0.375 range, a breakout from its current sideways trend could trigger a bullish signal, presenting an opportunity for long positions.

Disclaimer

The views expressed in this analysis are based on market data and technical indicators. Investors should conduct their own research and exercise caution when making trading decisions.

This summary provides a concise overview of the potential trading opportunities for ADA, emphasizing the importance of staying informed and vigilant in the volatile cryptocurrency market.

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