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$ADA
We are seeing an exciting long setup for Cardano ($ADA /USDT) on the 1-hour chart, where a bull flag pattern is unfolding. This pattern is a classic bullish continuation signal, highlighting a potential upward breakout after a brief consolidation. The price action has been consolidating in a tight range between two descending trendlines, following a steep rally upwards.
The 𝐁𝐨𝐥𝐥𝐢𝐧𝐠𝐞𝐫 𝐁𝐚𝐧𝐝𝐬 indicate a period of low volatility, suggesting that a breakout is imminent. The Stochastic RSI is currently at 74.69, pointing to continued upward momentum, though it’s approaching overbought levels. Meanwhile, the 𝐑𝐒𝐈 Divergence Indicator sits at 41.47, remaining neutral and leaving room for further price appreciation. Should the price break above the $1.0633 resistance level, we expect a strong bullish push towards $1.2536, confirming the positive market trend.

Additionally, on the 𝐓𝐎𝐓𝐀𝐋𝟑 𝐰𝐞𝐞𝐤𝐥𝐲 𝐜𝐡𝐚𝐫𝐭 the overall altcoin market shows significant bullish potential. A cup-and-handle pattern has formed and completed successfully, with a retest at the neckline around $1.04T. The Bollinger Bands show increasing expansion, signaling rising volatility, which often precedes upward price movement.
The 𝐒𝐭𝐨𝐜𝐡𝐚𝐬𝐭𝐢𝐜 𝐑𝐒𝐈 𝐚𝐭 𝟗𝟎.𝟕𝟓 is in overbought territory, but the momentum continues to drive the market, indicating that the upward trend is likely to persist. The RSI Divergence Indicator at 71.59 further supports the bullish outlook, suggesting that strong buying power remains in the market. If this trend holds, the total market cap could surge towards the $2T target, positively influencing altcoins like ADA.

Market Sentiment & Liquidity Analysis: The ADA/USDT liquidation heatmap shows strong liquidity zones near the $1.10 mark, which could act as a key level for upward price movement. The presence of resistance liquidation suggests a bullish breakout, with a clear accumulation of buyers, potentially leading to significant gains. As the price consolidates, it builds up momentum, increasing the likelihood of a breakout above the current resistance levels.

𝐓𝐫𝐚𝐝𝐞 𝐒𝐞𝐭𝐮𝐩:

Entry: Around $1.0317 or at the current market price

First Target (TP1): $1.1113

Second Target (TP2): $1.1734

Third Target (TP3): $1.2459

Please note, this analysis is intended for spot trading only. For those seeking advanced insights and trading strategies, including futures signals, I invite you to join my Binance Live Stream for premium support and real-time updates. Click on my profile to access the live session.

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