Welcome, followers of Binance Square! Let's start a new and simple analysis of the ADA/USDT coin, filled with practical insights, and rich in our community-focused style. All the information provided below follows the Binance Square guidelines, is clear, chart-based, and completely transparent. Let's go! 😊
---
📉 Market overview
Current price: ~$0.60 (≈$0.6003), down ~2.2% over the past 24 hours
24-hour range: approximately $0.59 to $0.61
Market cap: approximately $21.2 billion; 24-hour trading volume around $770 million
---
📊 Technical analysis and trading ideas
1. Support the rebound setup
Local support confirmed near $0.5935-$0.6000
Sample of the long setup 🔍:
Entry: ~$0.599–$0.600
Stop loss: $0.5935 (slightly below the support level)
Targets:
TP1: $0.6060
TP2: $0.6105
TP3: $0.6142
2. Correction or continuation?
Consolidation between $0.5880 and $0.6217 (Relative Strength Index neutral at level 48)
💡 Bullish scenario: Breaking the level of $0.6060, the next ceiling at $0.6274 → $0.6488 → $0.6703
⚠️ Bearish condition: A drop below $0.5880 could push the price towards $0.5845 → $0.5650 → $0.5500
3. Momentum is still alive
A few traders indicate continuity signals after breaking the bullish support; trading is now near the final TP area
4. Analyst optimism
Despite a weekly drop of nearly 15%, some remain optimistic - looking towards $0.85 → $1.17 if $0.60 holds and the RSI rebounds from oversold
---
🧠 Why this matters
1. Clear support - manageable risk: The defined risk area around $0.59 to $0.60 makes trade entries and exits clearer.
2. Multiple strategic targets: There is potential for a short to medium-term rally if momentum resumes.
3. Watch for the sell wave: Large shareholders have recently sold (about 270 million ADA shares), which may slow recovery in the short term
4. Community tone: We are here to share ideas, not promote them - always do your own research 🙌
---
🛠️ Suggested trading plan
Stop loss targets for entry strategy
Basic setup ~$0.600 $0.5935 $0.606 → $0.610 → $0.614
Aggressive > $0.606 less than entry price $0.627 → $0.648 → $0.670
Defensive - below $0.588, expect lower retracement targets
---
💡 Safety tips and guidelines
Set a stop loss point to manage risk
Position sizing: Do not allocate more than you feel comfortable losing
News awareness: Macroeconomic or cryptocurrency-related events can affect prices
Structure transparency: No promises - just opinions based on charts according to Binance Square rules
---
🔚 Final thoughts
The ADA price has reached a critical decision point. The support level at $0.60 could establish a bullish rebound towards the $0.62-$0.67 range, while a drop below $0.588 could lead to deeper declines. Whether you are setting a fundamental trade or targeting a strong rally, clarity is key.
---
What is your approach?
Are you buying at around $0.60 or waiting for a breakout at $0.606? Let's discuss that in the comments - community opinions make Binance Square a stronger platform! 🍀
