ā” Binance Futures Signal: Cardano (
$ADA /USDT)
Disclaimer: This is not financial advice. Crypto futures trading is high-risk, especially with leverage. Do your research and manage your risk carefully.
š° Trade Type: Short (Sell)
š° Entry Zone: $0.710 - $0.715
Rationale: The current price is $0.7030, just below this range. The chart shows a potential bounce toward the $0.710-$0.715 shaded zone, which aligns with the shorter MA (~$0.710) and recent resistance levels. The BeInCrypto articleās mention of selling pressure at resistance (e.g., $0.58 in 2024, adjusted to $0.71-$0.72 now) supports a short entry if the price reaches this zone.
Take-Profit Targets:
š TP1: $0.690 (initial support, recent low)
š TP2: $0.670 (next support, aligns with X posts noting $0.6800-$0.6900 as liquidity support)
š TP3: $0.650 (extended target, matches the previous signal)
Rationale: These levels are based on recent price action (lows around $0.7029-$0.6900) and historical support zones. The BeInCrypto articleās caution about a drop to $0.38, if support fails (adjusted to $0.65-$0.67 now), supports these targets.
š« Stop-Loss: $0.720
Rationale: Set just above the $0.715 resistance zone and the longer MA (~$0.720) to protect against a breakout, especially if oversold conditions (RSI 35.87) trigger a stronger bounce than expected.
āLeverage: 5x
Rationale: Moderate leverage is suitable given the bearish trend, but the oversold RSI suggests caution. Adjust to 3x for lower risk if preferred.
ā° Timeframe: 1-2 days
Rationale: Short-term trade to capitalize on rejection at $0.710-$0.715, expecting a quick drop within 48 hours as bearish momentum resumes.
Risk-Reward Ratio:
š° Risk: $0.715 (entry) - $0.720 (stop-loss) = $0.005
š° Reward (TP1): $0.715 - $0.690 = $0.025
š° Ratio: 1:5 (highly favorable for a Futures short trade)
Disclaimer: This is not financial advice. Crypto futures trading is high-risk, especially with leverage. Do your research and manage your risk carefully.
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