📈 $ADA /USDT – Bearish Pressure Building After Rejection from $0.7183 ⚠️📉

Cardano ($ADA ) recently tapped a local high at $0.7183 but failed to sustain momentum, leading to a significant drop toward the $0.6701 support level. The 1H chart shows a clear downtrend forming, with price currently hovering around $0.6875 — down -1.86% in the last 24H. The Parabolic SAR now signals a bearish trend continuation unless ADA flips key resistance levels.

This descending pattern after a parabolic push suggests sellers are gaining control. With volume on the rise and RSI nearing neutral levels, we could see a breakdown or bounce soon. Watch for how price reacts around the $0.6780-$0.6900 range.

Trade Setup #1 (Short Bias):

• Entry Zone: $0.6900 - $0.6950

• Target 1: $0.6700

• Target 2: $0.6550

• Stop Loss: $0.7040

Trade Setup #2 (Bullish Reversal if confirmed):

• Entry: $0.7000 breakout candle confirmation

• Target 1: $0.7180

• Target 2: $0.7350

• Stop Loss: $0.6800

Pro Tip:

Wait for a strong candle close above $0.7000 for any bullish confirmation. Until then, trend favors the bears. Keep SAR and volume divergence in focus.

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