“purchase opportunity”?
An expert weighs in
Cryptocurrency expert Nick Regan provided a YouTube video analysis of Cardano (ADA), in which he examines the token’s daily and hourly price trends. With insights for both short-term traders and long-term investors, the video highlights resistance levels, potential trading tactics, and ADA’s current market behavior. Regan’s analysis offers a roadmap for people considering future opportunities in ADA by examining important support and resistance locations, as well as potential accumulation zones.
ADA Key Levels on Hourly Chart
Nick Regan’s analysis focuses on the hourly chart, identifying critical resistance points for ADA. He notes that ADA is facing resistance between $0.325 and $0.3287, with additional pressure from the simple moving average (SMA) and the 50-day exponential moving average (EMA). This resistance zone has generated continued bearish pressure, although the analyst suggests that the decline may not extend beyond recent lows. Support was identified around the $0.315 to $0.317 range, where ADA briefly rallied after touching previous resistance levels. Regan recommends a potential long position, targeting $0.3173 and a stop loss at $0.3148, suggesting a risk-reward ratio of 1.5 for traders looking to capitalize on this volatility.
The daily chart highlights the accumulation potential
Regan’s analysis on the daily chart focuses on the long-term outlook for ADA. For long-term investors, he determines that the current price range of $0.29 to $0.34 is an excellent accumulation zone. Furthermore, he sees this price range as a potential buying opportunity despite the current bearish trends, and anticipates that ADA will benefit from any future market rallies. Indicators such as the Stochastic RSI indicate that ADA is currently oversold, pointing to potential bullish momentum. However, volume patterns remain low, reflecting an overall market cooling since the 2021-2022 cryptocurrency boom. Celebrate Dogecoin and make huge profits with Doge2014!
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The broader market consolidation phase and external macroeconomic conditions such as the US election and Federal Reserve policies have contributed to ADA’s current market positioning. Regan foresees a market turnaround in 2025, and ADA is poised to benefit from these changes. The analyst maintains a cautiously optimistic outlook, suggesting that ADA’s accumulation phase could yield significant returns in the future.
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