$ADA is currently bullish, supported by strong momentum and volume. However, traders should monitor the RSI closely for signs of overbought conditions. A decisive breakout above $1.3264 could lead to further gains, while failure to maintain the $1.2673 support could result in a short-term correction.
Key Levels:
Support: $1.2673 and $1.2007
Resistance: $1.3264 and $1.3340 (psychological barrier)
Trading Strategy:
For Bulls:
Look for a breakout above $1.3264 with strong volume to confirm further upside potential. Targets could be set near $1.40.
Use trailing stop-loss orders to protect profits in case of a reversal.
For Bears:
Monitor RSI and price action near resistance levels for signs of weakness or overbought conditions.
If ADA falls below $1.2673, short positions may become favorable, targeting $1.2007.
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