Technical analysis by mbaberhanif about Symbol ADX: Buy recommendation (10/22/2024)

The chart displays AdEx (ADX) paired with USDT on a 1-hour timeframe. The price has experienced a recent breakout from a consolidation range and is currently trading at 0.1818 USDT, just above a previous resistance level. The breakout suggests potential bullish momentum, and if the price sustains above 0.1820, it could signal further upside. A target around 0.2000 USDT is reasonable, while a stop-loss could be placed below 0.1730 USDT to manage downside risk. This setup suggests a favorable risk-to-reward ratio for a long position, but confirmation of momentum is key for entryTarget Reached