From ADA's 1-hour candlestick chart, it can be seen that the overall trend yesterday showed a high rebound and then a pullback, with the highest reaching 1.1193 USD before being blocked and retracing. The current price is running around 1.0629, and the lower band of the Bollinger Bands shows signs of moving down. The short-term market sentiment is bearish, but strong support exists below, suggesting a certain buying force in the 1.04-1.06 range.
Key technical indicators analysis:
Moving average analysis:
The MA5 and MA10 moving averages have formed a death cross, indicating that bearish forces dominate in the short term.
The MA50 moving average is located near 1.06, which is the current key support level. If it breaks, it may exacerbate the retracement.
Bollinger Bands:
The Bollinger Bands are converging, indicating that short-term volatility is shrinking, and the market is entering a consolidation phase.
The middle track is located near 1.07, and a short-term rebound needs to break through this point to confirm that the bulls have regained dominance.
RSI and MACD:
The RSI indicator hovers around 45, indicating a short-term bearish trend but has not entered the oversold zone, leaving room for a rebound.
The MACD momentum bar is negative, and short-term downward momentum still exists, but the distance between the two lines is narrowing, so attention should be paid to the golden cross signal.
Today's trading suggestions:
Based on technical charts and real-time data, ADA's short-term fluctuation is biased towards weakness, and trading suggestions focus on selling high and buying low, with strict stop-loss measures to control risk.
First target (goal): 1.075-1.08 USD
Short-term rebound target, if it breaks through the pressure of the middle track at 1.07, consider a light bullish position towards 1.08.Second target (extended target): 1.09 USD
After stabilizing at 1.08, further bullish targets can be set to 1.09, but attention should be paid to the volume support situation.Stop loss level: 1.045 USD
If the price breaks below 1.045, timely stop-loss should be executed to avoid greater retracement risks.
Trading plan:
If today's price retraces to stabilize in the range of 1.05-1.06, you can try to buy low, targeting 1.075, with a stop loss at 1.045.
If the price rebounds above 1.075 and the volume supports it, consider increasing the position to target 1.09.
If the price breaks below 1.045, the short-term trend turns bearish, and attention should be paid to the support range of 1.02-1.03.
ADA is currently in a consolidation phase, and short-term fluctuations may occur in the range of 1.045-1.075; trading should be cautious. The overall trend is weak, but there is strong support below, and it is expected that there will be no significant decline today. It is suggested to pay attention to the effectiveness of support and choose the right time to enter the market.
Direction: Cautiously bullish, short-term high selling and low buying, focusing on the breakthrough of the middle track at 1.07!
