ADA/USDT market analysis｜Short-term rebound or range fluctuation?

The current price of ADA/USDT is 1.1185 USDT, up +3.19% in 24 hours. The recent high and low points are 1.1335 and 1.0752 USDT respectively, with large fluctuations. The trading volume shows that ADA trading was active in the past day, with the total volume exceeding 600 million ADA.

Technical analysis

•The 4-hour K-line chart shows that ADA has recently shown a range-bound pattern, with the price mainly fluctuating between 1.075-1.120 USDT.

The upper pressure zone is around 1.1335.

•The SMI momentum indicator has just appeared a golden cross, indicating the possibility of a rebound in the short term, but attention needs to be paid to whether the indicator can further break through the zero axis.

Market sentiment and recommendations

•Entrusted orders show a 66% buyer advantage, and market sentiment is bullish.

•Short-term advice is to observe whether the resistance of 1.1335 is broken.

If it falls below 1.075, we need to guard against the risk of further correction.

•Long-term investors can wait for the correction to make arrangements in batches, operate with caution and set stop losses.

Note: The market situation changes rapidly, please invest rationally according to your own risk tolerance.

$ADA #ada