ADA: Pullback in Uptrend
Trade setup: Price remains in an Uptrend. It reached $0.80 resistance but got rejected 2x (Double Top pattern – bearish) and pulled back, breaking below $0.65-0.68 key level. Now it’s reached $0.57 support and is getting oversold (RSI ~ 30), which could be a swing trade entry opportunity in Uptrend, with +15% upside potential back to $0.65-$0.65 near-term. Stop Loss (SL) level at $0.52.
Trend: Downtrend on Short-Term basis and Uptrend on Medium- and Long-Term basis.
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance: Nearest Support Zone is $0.57, then $0.46. The nearest Resistance Zone is $0.65 - $0.68, then $0.80.
Trend: Downtrend on Short-Term basis and Uptrend on Medium- and Long-Term basis.
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance: Nearest Support Zone is $0.57, then $0.46. The nearest Resistance Zone is $0.65 - $0.68, then $0.80.
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