$ADA /USDT – Layer 1 Giant Cooling Off After Recent Rally (-4.04%)
Cardano (ADA) is currently trading at $0.7192 (-4.04%), pulling back from its 24h high of $0.7767 and nearing the support zone at $0.7166. With massive trading activity — 159.69M ADA (~$119.35M USDT) — ADA remains a top-watched Layer 1 coin even during short-term dips.
Momentum Analysis:
ADA is undergoing a technical cooldown after an extended move up. Depth data shows key support forming between $0.7166–$0.7283. A bounce above $0.7434 would suggest strength returning. If buyers hold $0.7130, the structure remains bullish.
Long Setup (Rebound Play):
Entry Zone: $0.7130–$0.7230
Targets: T1 $0.7434 / T2 $0.7586 / T3 $0.7737
Stop Loss: $0.6995
Breakout Confirmation: A 4H close above $0.7434 with increasing volume and sustained depth at higher bids
Key Support: $0.7130 – Proven demand zone with recent bottoming wicks
Pro Tip: ADA often fakes out on minor dips before strong reversals. Monitor closely for a potential bullish engulfing candle on the 1H or 4H chart near $0.716–$0.720 for early entries.