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USDT BEARISH SETUP ā STRONG REJECTION SIGNALS DOWNSIDE MOVE
Cardano ($ADAUSDT) is showing clear rejection from the major resistance zone near $0.5991 ā $0.6031, leading to a bearish pressure towards lower support levels.
š Key Levels:
Resistance: $0.5991 ā $0.6031 (strong supply zone)
Support: $0.5516 ā $0.5505 (potential demand zone)
Current Price: $0.5812
š Trade Setup (Short Entry):
Entry: $0.5934 ā $0.5991 (ideal retest entry zone)
Targets (TP):
TP1: $0.5700
TP2: $0.5600
TP3: $0.5516
Stop Loss (SL): $0.6035 (above resistance breakout level)
š§ Market Outlook: After facing multiple rejections from the key resistance, ADA is indicating bearish dominance with a potential drop towards the major support area at $0.5516. Sellers are in control unless a strong bullish engulfing candle breaks and holds above $0.6035.
ā ļø Risk Management: Always use strict SL. Risk only 1-2% of your capital per trade to maintain long-term sustainability in volatile market conditions.
š¬ Comment 'BEAR' if you see this move playing out!
#Cardano #ADAUSDT #CryptoTrading #BearishSetup #TechnicalAnalysis
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