$ADA

ADA/USD Technical Analysis – 29th November 2024

Cardano (ADA) is currently trading at 1.1391, showcasing resilience as it approaches critical price levels. With the market showing signs of potential volatility, traders are watching closely for a decisive move.

Key Support: 1.1200

Key Resistance: 1.1600

ADA has found strong support at 1.1200, which has served as a reliable floor for buyers. A bounce from this level could push the price toward the resistance at 1.1600. A breakout above 1.1600 might ignite a bullish rally toward 1.1800 or higher. Conversely, a failure to hold the support could see ADA testing lower levels around 1.1000.

Entry Strategy:

Long: Enter near 1.1200, targeting 1.1600 and higher.

Short: Watch for a breakdown below 1.1200, aiming for a move toward 1.1000.

ADA/USD is at a pivotal juncture, with significant potential for both upside and downside movement. Keep an eye on these key levels and prepare to take advantage of the next market shift!

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