ADA Operating Strategy | Can the Bulls Turn the Tide?
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Recently, the price action of ADA has really made people nervous!
The bulls are desperately trying to keep the price above the neckline of the 'inverse head and shoulders' pattern,
But as you can see—weak upward momentum and a lackluster rebound, it feels a bit hollow.
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How to view the current market?
The 20-day moving average is stuck around $0.75, moving sideways with no sense of direction;
The RSI indicator is also hovering in the middle, with both bulls and bears having similar strength, neither side has a significant advantage.
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Do the bulls want to turn things around? They must eliminate this resistance!
To really strengthen, they need to break through the $0.86 barrier in one go;
As long as they push through, the market could take off directly, aiming for $1.01!
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Do the bears have a chance? Of course they do!
If ADA can't hold up and the price falls back below the neckline, the bulls will basically retreat;
Next, it could potentially drop back to the support near $0.60,
However, this level may have strong buying defense, making it difficult to break through directly in the short term.
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Summary of the operating logic:
Break $0.86, consider going long, aiming for $1.01;
Break below the neckline, go short, aiming for $0.60;
Before a clear direction emerges, be cautious and observe or engage in low buy high sell for range arbitrage.
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The key price points have already been outlined for you, so let's see how the market chooses a side!
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