Crypto Twitter Trader Shares His Entries for an ADA Long Trade

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  • The crypto Twitter member CryptoMichNL shared his ideal entries for an ADA long trade.
  • The ultimate buy target for ADA is between $0.30 and $0.375.
  • ADA’s price is currently down 2.48% and is trading at $0.4402.

Founder of Eight Global trading platform and a full-time trader, Michaël van de Poppe posted on Twitter yesterday sharing what he believes will be Cardano’s (ADA) “ultimate buy target.”

It seems as if people are in the process of accumulating ADA, according to the Twitter post. The post further stated that the “ultimate area to buy from is the region at $0.30-0.375.” However, it is questionable whether or not the price of ADA will reach this area.

Should the price of ADA not reach this region, a break of the current sideways trend will trigger a long signal.

As the week starts off, CoinMarketCap shows that the price of ADA is at $0.4448, following a 2.48% drop in price over the last 24 hours. Despite this, the token’s price performance remains optimistic for the last week, with the token increasing 0.67% in value over time.

The daily trading volume for ADA is up 8.65%, which takes the total trading volume for the day to $576,892,777. ADA’s price was able to print a daily high of $0.4618 and set its low for the day at $0.4402. As such, the price of ADA is currently trading closer to its daily low.

Daily chart ADA/USDT (Source: CoinMarketCap)

Looking at the daily chart for ADA/USDT, the price of ADA is being held down by the 9 EMA line at the moment as the trading volume for the last 2-3 days has been predominantly sold volume. ADA’s price may continue to fall from its current level since the 9 EMA is positioned bearishly below the 20 EMA.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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