$ADA ⚠️ ENTRY SELL ONLY

here is the analysis for the next 12 hours and a strategy for a sell entry, including the stop loss (SL):

Chart Analysis (ADAUSDT Perpetual 1H)

1. Main Trend:

The price is currently above the exponential moving averages (EMA), indicating a strong uptrend.

The last candle shows potential consolidation after a sharp rally, represented by a small candle at the top.

2. RSI (Relative Strength Index):

RSI is near or in the overbought zone (above 70), suggesting that the price may be over-extended and prone to a correction.

3. MACD (Moving Average Convergence Divergence):

The MACD histogram remains bullish, but the momentum appears to be weakening, signaling a potential reversal.

4. Volume:

There was a spike in volume, but it decreased on the last candle, indicating weakening buying interest.

5. Stochastic RSI:

The Stochastic RSI shows an overbought condition, with a potential sell signal if the %K line crosses below the %D line.

Sell Entry Strategy

Entry Point:

Wait for confirmation of a bearish candle after the price fails to break the resistance level around $0.798 - $0.800.

If the price starts moving below EMA 9/20, it will strengthen the sell signal.

Stop Loss (SL):

Place the SL slightly above the strong resistance at $0.808 to avoid noise or a fake breakout.

Take Profit (TP):

TP 1: Around the nearest support at $0.770.

TP 2 (if the bearish momentum is strong): At $0.750.

Additional Notes:

If the price breaks out above $0.800 with strong volume, this sell scenario becomes invalid, and the uptrend may continue.

Monitor supporting indicators such as volume, RSI, and stochastic for confirmation before entering a position.

Be cautious of volatility and always adjust your position size according to your risk management plan. Do you need further assistance with this?