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$ADA
ADA Price Analysis: Brothers, is this operation a breakthrough or a fake move?
ADA successfully broke through the resistance level of $1.12 on January 7, but this seemingly 'set sail' breakthrough turned into a bullish trap, causing many chasing the rise to 'miss the boat'.
Quick Rebound: After the breakthrough, ADA quickly retraced, falling below the 20-day moving average ($0.98), and continued to probe the key support level of $0.9.
Increased likelihood of range oscillation: The possibility of rebounding from the $0.9 support is relatively high, and the price may oscillate and consolidate between $0.9 and $1.18 in the coming days.
Downward Support: $0.9: The current solid support level, strong buying interest is expected to intervene.
If it falls below $0.9, it may probe further down, focusing on the next defensive level of $0.85.
Upward Resistance: $1.18: If the bulls want to regain control of the situation, they must break through and stabilize at this level.
After breaking through $1.18, it may target $1.33.
Bearish Strategy:
If the price rebounds and meets resistance between $1.12 and $1.18, a light short position can be taken, targeting $0.98, with a stop-loss set above $1.2.
If it falls below $0.9, consider chasing a short position, targeting $0.85, with a stop-loss set above $0.92.
Bullish Strategy:
If the price stabilizes and rebounds around $0.9, consider a light long position, targeting $1.12, with a stop-loss set below $0.88.
After breaking through and stabilizing above $1.18, increase the long position, targeting $1.33, with a stop-loss set below $1.15.
This wave of ADA gives people a bit of a 'roller coaster' feeling, but the overall trend is more likely to consolidate within the range of $0.9 to $1.18. The $0.9 level is key support; if broken, the bears may regain strength; if it can rebound and stabilize at $1.18, then the bulls may bring about a rebound.
ADA Price Analysis: Brothers, is this operation a breakthrough or a fake move?
ADA successfully broke through the resistance level of $1.12 on January 7, but this seemingly 'set sail' breakthrough turned into a bullish trap, causing many chasing the rise to 'miss the boat'.
Quick Rebound: After the breakthrough, ADA quickly retraced, falling below the 20-day moving average ($0.98), and continued to probe the key support level of $0.9.
Increased likelihood of range oscillation: The possibility of rebounding from the $0.9 support is relatively high, and the price may oscillate and consolidate between $0.9 and $1.18 in the coming days.
Downward Support: $0.9: The current solid support level, strong buying interest is expected to intervene.
If it falls below $0.9, it may probe further down, focusing on the next defensive level of $0.85.
Upward Resistance: $1.18: If the bulls want to regain control of the situation, they must break through and stabilize at this level.
After breaking through $1.18, it may target $1.33.
Bearish Strategy:
If the price rebounds and meets resistance between $1.12 and $1.18, a light short position can be taken, targeting $0.98, with a stop-loss set above $1.2.
If it falls below $0.9, consider chasing a short position, targeting $0.85, with a stop-loss set above $0.92.
Bullish Strategy:
If the price stabilizes and rebounds around $0.9, consider a light long position, targeting $1.12, with a stop-loss set below $0.88.
After breaking through and stabilizing above $1.18, increase the long position, targeting $1.33, with a stop-loss set below $1.15.
This wave of ADA gives people a bit of a 'roller coaster' feeling, but the overall trend is more likely to consolidate within the range of $0.9 to $1.18. The $0.9 level is key support; if broken, the bears may regain strength; if it can rebound and stabilize at $1.18, then the bulls may bring about a rebound.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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