ADA has pushed up nearly +4%, breaking past prior resistance and now testing a fresh supply zone around 0.8375. This move aligns with previous rejection areas, and price action is showing signs of slowing down here.
Key Technical Zones:
Supply Zone: 0.8375 – 0.8450 (price reaction area, possible reversal).
Support Zone 1: 0.7729 – Old resistance turned support.
Demand Zone: 0.6951 – Strong previous buy interest.
Trade Outlook:
Short-Term Bearish Bias
Strong supply zone reaction likely unless a breakout is confirmed.
Ideal short entry on bearish candle confirmation.
TP1: 0.7729 | TP2: 0.6951 | SL: Above 0.8460
Alternative Bullish Breakout:
Clean break and retest above 0.8450 opens the door for a continuation move.
Wait for confirmation before buying high.
Volume + Structure = Caution Here!
What’s your plan – short from resistance or wait for breakout?
#ADA #Cardano #CryptoAnalysis #PriceAction #SupplyAndDemand #LuxAlgo #TradingView #CryptoTraders #Altcoins
Key Technical Zones:
Supply Zone: 0.8375 – 0.8450 (price reaction area, possible reversal).
Support Zone 1: 0.7729 – Old resistance turned support.
Demand Zone: 0.6951 – Strong previous buy interest.
Trade Outlook:
Short-Term Bearish Bias
Strong supply zone reaction likely unless a breakout is confirmed.
Ideal short entry on bearish candle confirmation.
TP1: 0.7729 | TP2: 0.6951 | SL: Above 0.8460
Alternative Bullish Breakout:
Clean break and retest above 0.8450 opens the door for a continuation move.
Wait for confirmation before buying high.
Volume + Structure = Caution Here!
What’s your plan – short from resistance or wait for breakout?
#ADA #Cardano #CryptoAnalysis #PriceAction #SupplyAndDemand #LuxAlgo #TradingView #CryptoTraders #Altcoins
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Disclaimer
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