$ADA /USDC SHOWS WEAK BOUNCE AFTER BREAKDOWN – SHORT TRADE OPPORTUNITY LOOMS
Cardano ($ADA ) has just shown a weak recovery after hitting an intraday low of $0.5998, but it’s still trading below key resistance levels. The price is currently hovering around $0.6067, after rejecting the $0.6218 area earlier in the day.
📉 Technical Breakdown
Resistance Zone: $0.6130 – $0.6180
Previous Support Flipped Resistance: $0.6084
Bearish Structure: Lower highs and lower lows visible on the 15m chart
Volume: Decreasing on green candles, indicating weak buyer momentum
🔻 Short Trade Setup Idea:
• Entry Zone: $0.6060 – $0.6085
• Target 1: $0.5995
• Target 2: $0.5950
• Stop Loss: $0.6135
💡 If price fails to break above $0.6085, it could revisit its recent low or even create new ones. Watch closely for a rejection wick or bearish engulfing near resistance before entering.