#ADABullish #ADAUpdate #FutureTarding #SpotTrading. #CurrentAffairs
Looking at ADA/USDT chart on the daily timeframe, let's break down the potential entry, stop loss, and take profit levels based on the current candle patterns and technical indicators:
Technical Analysis Overview:
Price Action:
Current price: $0.7062
There was a recent sharp spike to $1.1747, followed by a strong rejection, showing heavy selling pressure.
The price has pulled back and is now consolidating between $0.69 (recent low) and $0.77 (MA 25 resistance).
Moving Averages:
MA(7): $0.7239 (just above the price acting as resistance)
MA(25): $0.7714
MA(99): $0.8995
Price is below all major MAs, indicating a bearish trend.
Candlestick Pattern:
Recent candles show indecision (small bodies), suggesting a potential reversal or continuation.
Last candle is a small-bodied candle (possibly a doji), which often signals a potential change in direction when found at key support/resistance.
Volume:
Recent decreasing volume, indicating weakening momentum.
Trade Plan (Futures):
Entry:
Conservative Long Entry: $0.7200 - $0.7250
Enter on confirmation of a bullish candle closing above the MA(7).
Aggressive Long Entry: At current price $0.7060 - $0.7080
If you anticipate a bounce from the $0.6900 - $0.7000 support zone.
Stop Loss:
Conservative SL: $0.6900
Below recent support and 24h low.
Tighter SL: $0.6990
If you're looking for lower risk and tighter control.
Take Profit (TP):
TP1: $0.7500 (near the MA(25) resistance)
TP2: $0.7700 - $0.7800
If it breaks above MA(25) with momentum.
TP3 (Extended target): $0.9000
If it gains enough strength to test the MA(99).
Bearish Scenario (Short):
If the price breaks below $0.6900, it could continue the downtrend.
Short Entry: $0.6880
SL: $0.7050
TP1: $0.6600
TP2: $0.6200
Summary (Long Bias):
Entry: $0.7060 - $0.7250 (watch for bullish confirmation)
Stop Loss: $0.6900
Take Profit: $0.7500 / $0.7700 / $0.9000
Let me know if you want me to adjust the plan for different timeframes or risk levels!
