Technical analysis of the ADA/USDT pair based on the image:
1. Analysis of the current price and important levels:
The current price of Cardano (ADA) to the US Dollar is 1.1803.
There is a strong liquidity area below the current level, which reflects the possibility of the price being drawn towards this area before rising.
The market structure (BOS - Break of Structure) has been broken upwards, which is a positive signal indicating an upward trend.
Nearby resistance levels are marked with H.H (Higher High), and indicate an area where the price may face selling pressure.
2. Potential buying and selling areas:
Buying Area: Identify the green area as a potential attraction level to enter buy trades in case of a price correction.
Selling Area: Near the red levels shown at resistance.
3. Market trend:
The overall trend is bullish supported by increasing trading volume shown in the bars below the chart.
The Relative Strength Index (CCI) is in a continuous upward trend, indicating positive price momentum.
4. Recommendations:
Buy: From the support areas shown in case of a price correction.
Watch: Any break of resistance at H.H to confirm the continuation of the rise.
Risk Management: A suitable stop loss should be placed below the liquidity zone.
Disclaimer: The analysis is the opinion of our team and is intended to illustrate the general market trends based on the attached image. Trading involves risks, and personal research should be conducted before making any decisions.