$ADA 1. Price Trend - Short-term Recovery

• The price just dropped to the 0.618$ zone, then bounced back strongly and is currently testing the short-term resistance area of 0.634$.

• The current candle is a doji/indecisive candle, indicating that the price is hesitant at the old peak.

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2. Technical Indicators

EMA - Moving Average

• EMA(7) = 0.6304 (gold) is crossing above EMA(25) = 0.6277 (pink) and EMA(99) = 0.6240 (purple)

→ This is a short-term bullish signal (bullish crossover).

Volume

• Volume is gradually increasing in the bullish candles, indicating strong buying.

• However, the last volume candle is slightly decreasing, so there may be a slight adjustment.

RSI (Momentum)

• RSI(6) = 66.2, RSI(12) = 61.7 → Close to the overbought level (70) but not excessively tight.

• RSI is trending upwards, indicating that buying pressure is still present.

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3. Short-term Trend Assessment

• Short-term increase but is touching the nearest resistance area of 0.634$.

• If this area is surpassed, ADA could target the range of 0.640 - 0.645$.

• If it fails, there is a possibility of retouching the EMA(25) or EMA(99):

→ Support area: 0.627 - 0.624$

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Suggested Trading Strategy (1h frame):

Successful breakout at 0.634$ (large volume):

• Entry: 0.635$

• TP: 0.645 - 0.65$

• SL: below EMA99 (0.622$)

If the price is rejected at 0.634$ (with a strong bearish candle):

• Wait for a retest of the 0.624 - 0.627 area to enter a long position with lower risk

• SL: 0.617$

• TP: return to the 0.634 - 0.638$ area