$ADA

USDT BEARISH BREAKDOWN – SUPPORT TEST UNDERWAY!

Cardano ($ADA) is showing clear bearish momentum as it trades at $0.5674 (-0.65%), hovering near its 24h low of $0.5629. The price has failed to reclaim previous highs, indicating continued downside pressure.

🔑 Key Levels:

Resistance Levels: $0.5800 / $0.5900 / $0.6000

Support Levels: $0.5629 (immediate) / $0.5500 (major support)

Current Price: $0.5674

📉 Trade Setup (Short):

Entry Zone: $0.5680 – $0.5730

Take Profit Targets:

➤ TP1: $0.5600

➤ TP2: $0.5500

Stop Loss: $0.5805

💡 Market Outlook:

ADA is forming lower highs with persistent rejection from resistance zones, suggesting sellers are in control. If the price breaks below $0.5629, expect acceleration towards $0.5500 support. However, watch for fakeouts near intraday lows.

⚠️ Risk Management:

Trade with 2-3% capital allocation, place tight stops above resistance, and avoid overleveraging in volatile conditions.

#ADA #Cardano #CryptoTrading #TechnicalAnalysis #Binance

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