$ADA Price Pressure Builds: Shorts Squeezed at $0.6611
A major short liquidation worth $1.311K has just been triggered at $0.6611, signaling potential reversal or breakout momentum. Smart traders are watching closely as the market shows signs of squeezing the bears. Here's what the setup looks like:
Technical Analysis for $ADA
Buy Zone:
$0.6460 to $0.6600
This is a key demand area, with buyers defending the lower bound aggressively. Price dipping into this zone with strong bounce signals can be an entry opportunity.
Immediate Resistance:
$0.6750 – A break above this level may push $ADA toward a rapid upside continuation.
Target 1: $0.6920
Target 2: $0.7150
Target 3: $0.7490 – Final breakout zone if momentum holds and volume supports a full trend reversal.
Stop Loss:
Below $0.6390
Placing a stop-loss here protects you in case of a fakeout or unexpected sell-off.
Strategy Insight:
This liquidation zone could mark the start of a short squeeze. Momentum traders should watch for bullish confirmation candles above $0.6650. Volume and market structure will be critical indicators for further upside.