$ADX – Support Bounce Signals Potential Recovery
$ADX /USDT is testing a recovery path after a dip from $0.0893, with the price stabilizing near $0.0887. The 15-minute chart highlights a strong rebound from the $0.0859 support zone, indicating potential buyer interest at short-term lows. However, the $0.0893 resistance remains a critical hurdle for sustained upward momentum.
Key Levels:
- Support: $0.0859 (recent swing low)
- Resistance: $0.0893 (immediate barrier), $0.0930 (higher-timeframe resistance)
Trade Strategy:
- Entry Range: $0.0882 – $0.0888 (near current price consolidation)
- Targets:
- Take Profit 1: $0.0898 (intraday resistance)
- Take Profit 2: $0.0915 (swing high)
- Final Target: $0.0930 (breakout zone)
- Stop Loss: $0.0864 (below recent swing low to limit downside risk)
Critical Considerations:
- The rebound lacks confirmation; increased buying volume is required to validate the move.
- A decisive 15-minute close above $0.0893 could accelerate bullish momentum toward higher targets.
Pro Tip: Monitor order flow and volume trends closely. A rejection at $0.0893 without strong volume may signal a false breakout, warranting caution.
