ADA Breaks Through Key Level of 1 Dollar, Can It Welcome a Rebound After Short-term Fluctuations?

The current real-time price of ADA is $0.9954, with significant fluctuations at night, reaching a high of $1.0309 and a low of $0.9816, showing a clear oscillating trend. The current price is around $0.99, just a step away from the key price level of 1 dollar. After breaking this psychological barrier, ADA is expected to welcome a wave of rebound.

Technical Analysis:

Support and Resistance:

Support Level: $0.9816 is the key support area in the short term. If the ADA price falls below $0.98, it may further retrace to the support area near $0.95. Resistance Level: $1.03 is currently the short-term high point; if ADA breaks through this price, it may accelerate towards $1.05 or even higher.

Bollinger Band Analysis:

The upper band of the Bollinger Bands is at $1.03, forming short-term pressure. The lower band is near $0.98, and the current price is close to the lower band. If the price rebounds, $1.03 will be the key resistance in the short term, and breaking through will increase the upward space.

RSI Indicator:

The current RSI value is 57, within the normal range, and has not shown overbought or oversold signals. This means ADA has enough room to continue climbing, especially after breaking the 1 dollar mark.

Long Strategy:

Entry Position: If ADA breaks through $1.03 and forms an effective breakout signal, consider going long. Take Profit Position: Target range is $1.05 to $1.07. If the price further breaks through $1.05, the target can be adjusted to $1.10. Stop Loss Position: If the price falls below the $0.98 support, exit the position.

Short Strategy:

Entry Position: If ADA fails to break through $1.03 and shows a pullback, consider shorting around $1.02. Take Profit Position: Target range is $0.98 to $0.95. If the price continues to pull back below $0.98, further testing down to $0.95 is possible. Stop Loss Position: If the price breaks through $1.05, exit the position.

Currently, ADA is at a critical moment; after breaking the 1 dollar mark, it may welcome a wave of increase. If ADA breaks through $1.03 and steadily stays above this price, the price may quickly rise to the range of $1.05 or even $1.10. Conversely, if it fails to break through and continues to pull back, it may test the support at $0.98 or even $0.95 again in the short term. $ADA