$ADA

ADA Price Analysis

ADA has been very dramatic recently! The bulls have held their ground and prevented the price from falling further. They have successfully pushed the price up and stabilized it above the neckline of the bearish pattern, which gives the market a glimmer of hope for a "fightback". Let's take a look at the key points!

Bulls' counterattack: can it continue?

Bulls have now completed an important task: defending the neckline and pushing the price up. This trend may allow some aggressive shorts to choose to close their positions, thereby bringing additional buying momentum to the market. If this situation continues, the price is expected to climb further:

Target 1: $1.21

This is a key resistance level that may be tested in the near future.

Opportunity for bears: counterattack or defeat?

If the bulls fail to break out near $1.21, the bears may make a comeback and try to push the price back below the neckline. If successful:

ADA may enter a new phase of decline and retrace to a lower support area.

Long order strategy:

If the price continues to stabilize above the neckline, you can follow up with a light position, with the target at $1.21; after the breakthrough, you can gradually increase the stop profit position.

Shorts waiting for opportunities:

If the price cannot stabilize at $1.21 and falls back, you can try short orders after confirming that it has broken through the neckline, with the target at lower support.

At present, ADA is in a critical rebound stage, and bulls are expected to hit the $1.21 resistance, but the risk of a short counterattack still exists. Keep an eye on price movements and adjust strategies at any time. Opportunities are only for the calmest players!