📊 Market Overview
Cardano (ADA) is currently trading at $0.8097 USD, with a daily high of $0.8433 USD and a low of $0.7865 USD. The trading volume in the last 24 hours reached about $1.17 billion USD.
ADA has increased about 17.7% in the last 7 days, showing a significant recovery after hitting a low of $0.6420 earlier this month.
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📈 Technical Analysis
• Nearest resistance: $0.82 – $0.85
• Strong support: $0.75 – $0.78
• RSI (4H): Around 60 – indicates room for increase but caution is needed with the overbought area
• EMA20 and EMA50: EMA20 has crossed above EMA50, signaling a short-term bullish trend
The 4-hour chart shows ADA is in an uptrend, but it is necessary to closely monitor resistance levels to assess the potential for continued price increase.
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📰 Top News
• Important update on Cardano blockchain: Cardano has implemented a significant upgrade on its network, opening new price increase opportunities for ADA.
• ADA price forecast: According to forecasts, ADA could reach $1 in May if it maintains above the support level of $0.78. ⸻
📊 Trading Strategy
Scenario 1 – Open Long Position
• Reason for the order: Price broke through the resistance level of $0.82 with strong trading volume, confirming the uptrend.
• Entry zone: $0.81 – $0.82
• Stop-loss (SL): $0.75 (Below the nearest support)
• Take-profit (TP): $0.90 – $1.00
• Success probability: 65% (Based on technical signals and strong inflow)
Scenario 2 – Open Short Position
• Reason for the order: Price cannot maintain above $0.82 and shows signs of a downward reversal.
• Entry zone: $0.82 – $0.83
• Stop-loss (SL): $0.85 (Above the nearest resistance)
• Take-profit (TP): $0.75 – $0.70
• Success probability: 60% (Based on the correction potential after a strong increase)
Note: The market is in an excited state; strict risk management is needed, and technical signals should be closely monitored.
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🔗 Trade ADA
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