$ADA -Bullish Momentum Building Up
Market Overview:
Current Price: $0.6898
Trend: Recovering from recent low at $0.6701
Indicators:- MA(7) = 0.6875, MA(25) = 0.6834, MA(99) = 0.6933
Price is currently above the short-term MAs (7 and 25) but still below the MA(99), indicating a short-term bullish push in a broader downtrend or consolidation.
- RSI(6) = 66.16, approaching the overbought zone but still showing strength.
- Volume: Increasing slightly on green candles – a good sign of buyer interest.
Support Zones:
- $0.6858 – short-term support (recent consolidation zone)
- $0.6701 – recent low, strong base
Resistance Zones:
- $0.6933–0.6946 – MA(99) and previous resistance
- $0.7103 – local high
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Trade Setup:
Possible Entry:
- On a slight dip near $0.6860–$0.6880 for a better risk-reward
- Aggressive entry at current levels for momentum traders
Targets:
1. TP1: $0.6930 (near MA(99) resistance)
2. TP2: $0.7000–$0.7100 (previous top zone)
Stop-Loss:
- Below $0.6850 (tight SL)
- Safer SL: Below $0.6700
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Summary:
This looks like a short-term bullish recovery. If ADA breaks above the MA(99) around $0.6933, it could spark more upside momentum. Watch for volume confirmation and RSI pushing higher, but stay cautious if price gets rejected near resistance.
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