🔻 $ADA
/JPY – SHORT BIAS AS UPTREND STALLS BELOW RESISTANCE
Cardano (ADA/JPY) is currently trading at 83.23 JPY ($0.5759), up +0.74% on the day,
but failing to push convincingly past 84.50 resistance. The pair is showing signs of distribution near key levels,
opening the door to a short opportunity if downside triggers activate.
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🔑 Key Levels
Resistance Zone: 84.33 – 85.34
Support Zone: 82.32 → 81.54
Current Price: 83.23 JPY
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📉 Bearish Setup (Short Trade Idea)
Entry: 83.20–83.40 JPY
Take Profit 1: 82.32
Take Profit 2: 81.54
Stop Loss: 84.60
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📊 Technical Highlights
Price is hovering below MA(10) (9,414 volume vs. MA(5) 5,970), showing decelerating buyer strength.
Repeated rejection below 84.50 signals seller defense at a key supply zone.
If 82.32 breaks, the pair could cascade to 81.50, aligning with a previous liquidity pocket.
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⚠️ Risk Notes
Stop above 84.60 ensures you're out if price breaks prior highs.
Use reduced size or trailing stop if trading into high-volume JPY sessions (Tokyo open).
Short bias invalidates if price holds above 85.34.