ADA fluctuates upward, with increasing divergence between bulls and bears

1. Market Analysis

The current price of ADA is $1.185, with a daily high of $1.2467 and a low of $1.1392. Recently, ADA has shown a steady upward trend, but there is turbulence at high levels, and the tug-of-war between bulls and bears is evident, with the short-term direction still unclear.

2. Support and Resistance Levels

• Support Levels:

• $1.1700: Short-term support level; if the price retraces, it may gain rebound momentum here.

• $1.1400: Stronger support level; if the price breaks below $1.17, it may test this area.

• $1.1000: Psychological support area; if it further dips, this will become a key defense point.

• Resistance Levels:

• $1.2000: Important short-term resistance; if this area is broken, it may further open up upward space.

• $1.2400: Daily high; breaking through here will further confirm the upward trend.

• $1.3000: Important psychological level; bulls need to break through this point to attract more capital inflow.

3. Short-Term Contract Strategy

• Long Strategy:

• Entry Point: $1.1700 (If the price stabilizes after a retracement, a long position can be attempted)

• Additional Position Point: $1.1400 (Add to positions when further dipping to strong support level)

• Stop-Loss Level: $1.1000

• Take Profit Level: $1.2000 (first target), $1.2400 (second target)

• Short Strategy:

• Entry Point: $1.2000 (If the price tests resistance without breaking through, consider shorting)

• Additional Position Point: $1.2400 (If the price breaks $1.2000 but does not stabilize, add to positions)

• Stop-Loss Level: $1.3000

• Take Profit Level: $1.1700 (first target), $1.1400 (second target)

If ADA can break through the $1.2000 resistance level, it may further rise to psychological levels of $1.2400 or even $1.3000. If it fails to break through $1.2000, it may retrace to the $1.1700 or even $1.1400 area for consolidation. Investors need to closely monitor the performance of key support and resistance levels.

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