Cardano (ADA) Poised for Breakout: Key Levels and Indicators
ADAUSDT Cardano (ADA) Poised for Breakout: Key Levels and Indicators to WatchAnalysis:
Price Action Strategy:
Support and Resistance Levels:
The chart shows key support at approximately 0.85177 (1.618 Fibonacci level) and resistance at 0.90723 (0.5 Fibonacci level).
Trend Analysis:
The price is currently in a consolidation phase after a downtrend, with potential for a breakout above the 0.90723 resistance level.
Volume Analysis:
There is a noticeable increase in volume, indicating potential buying interest.
Smart Money Concepts (SMC):
Break of Structure (BOS):
A BOS is identified at the 0.90723 level, suggesting a potential shift in market structure.
Change of Character (CHOCH):
A CHOCH is observed, indicating a possible reversal from the previous downtrend.
Fair Value Gap (FVG):
An FVG is present around the 0.90723 level, which could act as a magnet for price.
ICT Strategy:
Order Blocks:
Multiple order blocks are identified, with a significant one around the 0.85177 level, indicating strong institutional interest.
Equal Highs:
The chart shows equal highs around the 0.90723 level, suggesting liquidity above this level.
Strong Low:
A strong low is identified, providing a potential support level for a bullish move.
Indicators:
RSI:
The RSI is currently at 65.50, indicating bullish momentum but approaching overbought territory.
MACD:
The MACD shows a bullish crossover, supporting the potential for upward movement.
Buy Signal:
entry: 0.906
tp1: 0.950
tp2: 1.000
sl: 0.875
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entry: 0.906
Trade closed: target reached
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Alex Gold Hunter
Free Signals & analysis
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bit.ly/4fQGd0G
bit.ly/3ODlUI4
Free Signals & analysis
Join for Free
tinyurl.com/ClassicFreeSignals
bit.ly/4fQGd0G
bit.ly/3ODlUI4
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.