$ADA /USDT


Current price: $0.834
Target Price:

- Take Profit (TP1): $0.8100
- Take Profit (TP2): $0.7850
Stop loss price: $0.8650
Reason for buying: Cardano (ADA) failed to maintain above the resistance zone of $0.88 - $0.90, sliding down to $0.8319, a drop of 7.14%, and encountered resistance and fell back near the high point of $0.9284, while sell volume increased, strongly indicating bearish momentum, with sellers dominating the market. If buyers do not enter the market in a timely manner, the price may drop to the immediate support level of $0.82 - $0.80. Therefore, a short position is chosen in the range of $0.8350 - $0.8450, hoping to take profit when the price drops to $0.8100 and $0.7850. Once the price breaks above $0.8650, the short logic is invalidated, and a stop-loss must be executed.
Market Outlook: As long as the price remains below 0.88, the overall short-term outlook for ADA remains weak. Although if the bulls can strongly hold the $0.80 support zone, it may rebound to $0.90, the current view suggests a greater likelihood of a bear market.
This content is for reference only and should not be considered as investment advice.
ADA-3.95%
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