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Bearish Collapse - Prepare for Another Drop! 🚨
Cardano shows weakness after failing to reclaim key resistance levels. The market structure remains bearish with consistently forming lower highs and lower lows. The price is struggling at the $0.5490 level, indicating sellers' control over the market, and further decline is very likely.
🔻 Trading Setup (Short Selling)
Entry Zone: 0.5430 - 0.5460
Take Profit 1: 0.5300
Take Profit 2: 0.5208
Stop Loss: 0.5500
📊 Market Outlook on the Short Side: Momentum is clearly bearish, with resistance retreating near the resistance level. Unless ADA decisively reclaims the $0.5500 level, expect a continuation towards the support level of $0.5200. Monitor Bitcoin's structure to confirm any further bearish flows.
⚠️ Risk Management: Use precise position sizing. Never risk more than 1-2% of your capital on each trade to protect yourself from sudden reversals.
💥 Comment if you notice this bearish situation or plan to take advantage of the drop!
Buy and trade here at $ADA