ADA: Adjustment and Consolidation, Can It Return to an Upward Channel?
Market Analysis
ADA's current price is 1.0769, down 2.18%, overall in a narrow consolidation phase. The 4-hour candlestick chart shows the price between the MA25 and MA7 moving averages, presenting a weak oscillating situation. The RSI indicator (6) shows around 49, with market sentiment slightly neutral, but the MACD momentum bar is gradually shrinking, and the short-term direction is still unclear.
Technical Analysis and Key Levels
• Support levels: 1.0389, 1.0094, 0.9100
• Resistance levels: 1.0961, 1.1246, 1.1300
Short-term Trading Strategy
Long Strategy:
• Entry point: 1.0389
• Add position point: 1.0094
• Stop-loss point: 0.9900
• Take profit targets: 1.0961, 1.1246, 1.1300
Short Strategy:
• Entry point: 1.0961
• Add position point: 1.1246
• Stop-loss point: 1.1400
• Take profit targets: 1.0389, 1.0094, 0.9100
My Prediction
ADA is currently in a consolidation range. If it cannot stabilize above 1.0961, it will face further retracement pressure and may test the support level of 1.0389. However, if the bulls push through 1.0961, the price is expected to challenge 1.1246. It is recommended that investors operate cautiously, paying attention to changes in trading volume and short-term key levels.
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