Entry Point: Around $1.05–$1.07 (expected retracement level before continuation upward)
Take Profit (TP): $1.40 (Key resistance level)
Stop Loss (SL): $1.00 (Below support and retracement zone)
Explanation:
Trend and Momentum:
ADA/USD is in an upward trend, making higher highs and higher lows, suggesting bullish momentum.
The price recently broke through a resistance zone and is now likely to retrace slightly before continuing upward.
Retracement Levels:
The area around $1.05–$1.07 represents a strong support zone where buyers are likely to step in.
This zone aligns with previous consolidation and breakout levels.
Profit Target:
The $1.40 level is a strong resistance zone and aligns with projected upward momentum, providing a logical exit point.
Risk Management:
Stop Loss at $1.00 protects against a potential bearish reversal while providing room for normal price fluctuations.
The risk-to-reward ratio is favorable, making this a high-probability trade setup.
Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice. Trading cryptocurrencies involves significant risk and may not be suitable for all investors. Make sure to conduct your own research and consult with a licensed financial advisor before entering any trades.
