$ADA
ADA price analysis: pressure intensifies, support becomes the key!
Recently, the price of ADA has been suppressed below the neck of the H&S pattern. The bears obviously do not want to let the bulls go, and the pressure is great. The next key offensive and defensive battle may come!
Short advantage: break the support and look at lower targets
If the price continues to fall, the support area of $0.80 to $0.76 will become the last line of defense for the bulls.
If the support is lost, the bears will further push the price down, and the target may be:
$0.52.
This means a deeper adjustment, and the bulls must be cautious.
Bulls counterattack: hold the support and reverse the situation
If the bulls can hold the $0.80-0.76 support area, a strong rebound is expected:
Once the price re-stands above $1 and stabilizes above it, some aggressive shorts may be forced to short, triggering a short squeeze rebound.
Subsequent rebound targets may look at $1.127 and higher levels in turn.
The current ADA trend is a "powder keg". The $0.76 support and $1 resistance will determine the next direction. Keep a steady mind, keep a close eye on the key points, wait for clear signals before taking action, and don't let the market lead you by the nose!