TECHNICAL ANALYSIS UPDATE ADA🔥🔥
Cardano currently shows a bullish technical structure, supported by positive momentum indicators such as RSI and MACD. On the daily timeframe, the trend is clearly uptrend, confirmed by the rising 50-day moving average and increasing volumes. However, the price is close to a significant resistance at $0.92–0.94, a level that has previously generated strong profit-taking. A decisive breakout above this range could push ADA towards the next target at $1.07–1.15, with further extension possible to 1.32$ in the short to medium term.
Regarding supports, key levels are positioned at 0.88$ and subsequently at $0.82; a drop below could signal a return towards $0.75.
Possible recommended trading strategy:
Entry: in the area of $0.94, after a daily confirmation of breakout above $0.92.
Take Profit: zone 1.07$ (first resistance) and, for those holding, also at $1.15.
Stop Loss: strictly set at $0.88, daily support level and limit to avoid losing positive momentum.
ADA is in a bullish trend but close to critical levels. A disciplined management of stops and targets is essential to capitalize on the market's next moves.
Volatility remains high and requires attention.
I advise you to never enter a position with all the capital you wish to invest so that you can better manage the position in case of sudden retracements.
Please make sure to ALWAYS operate with low leverage and always set the stop loss.
