Brothers, let's chat about the ADA lunchtime market conditions, let's get straight to the point!
First, looking at the 4-hour chart, ADA's trend has not deviated from the descending channel and has been moving downward. The price is currently being pressed down by the MA30 moving average (0.8280) and the middle Bollinger Band, which is also opening downward, indicating a weak market condition. Next, looking at MACD, a death cross has formed below the zero line, the green bars are continuously increasing, and the RSI indicator is hovering around the weak zone at 45, which clearly shows that the rebound is weak and cannot be sustained.
Although there was a slight rebound just now, the trading volume has obviously decreased, which is not a sign of a trend reversal, but rather a technical correction. Don't be fooled by this small rebound.
Now let's talk about the key levels. The short-term resistance is mainly in the range of 0.8300 to 0.8350, which is not simple. It is both a weekly level tipping point between bulls and bears and the 38.2% Fibonacci retracement level, presenting significant pressure. If there is no significant volume breakout from this range during lunchtime, it is highly likely to continue moving downward, first testing the support level at 0.8150, which is the previous low point platform; if this support is also broken, the downward trend may accelerate, heading straight for the psychological levels of 0.8050 to 0.8000.
In terms of operation, the advice is to wait for the price to rebound to around 0.8250 to 0.8330, and enter the market in batches, targeting 0.8150 to 0.8020. Make sure to set a strict stop loss above 0.8380 to prevent losses from widening.
Finally, a reminder that the volatility of the market during lunchtime usually narrows, making it easy to encounter false breakouts. Everyone must operate cautiously during this time, ensuring risk control is in place, and not being careless! $ETH
