Analysis and Trading Strategy: Long
• Trend Analysis: The ADA/USDT chart on the 1-hour timeframe shows a strong uptrend as the EMA(7) > EMA(25) > EMA(99). This indicates solid support from investors and stable buying power in the short term. The current price remains above the EMA lines, confirming that the upward momentum is likely to continue.
• Technical Indicators:
• MACD: Positive histogram and the MACD line crossing above the signal line, indicating strong bullish momentum. This is a signal supporting the entry into a Long position.
• RSI: RSI(6) at 72.3, near the overbought zone, but not at extremely high levels, indicating there is still room for further increases. RSI(12) and RSI(24) are also steadily rising above 50, confirming the positive trend.
• Stoch RSI: In the overbought zone at 80.6, which may cause a slight correction, but still remains in the support zone for the uptrend.
Trading Strategy:
• Long around the level of 0.3590 when the price stabilizes above the support zone.
• TP: 0.3650 (target near the previous resistance peak)
• SL: 0.3520 (below EMA(25) to manage risk)
Reason: The indicators and trend show strong buying power, supporting the likelihood of continued price increases.
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