$ADA Alert: The Weak Bounce is Fading! ๐๐
Cardano ($ADA ) is currently showing a classic Bearish Continuation pattern. After a brief relief rally, the price is facing a strong rejection at local resistance levels, suggesting that the "Weak Bounce Trap" is set for late buyers.
Why the Bearish Outlook?
Resistance Rejection: Price is struggling to hold above the $0.29 mark, forming a clear lower high.
Momentum Shift: The 4-hour chart shows increasing sell pressure as momentum turns back toward the downside.
Volume Exhaustion: The bounce lacked the necessary buying volume to break through key psychological barriers.
Trade Strategy & Execution:
Action: Direct Short ๐
Entry Zone: 0.279 โ 0.288
Take Profit (TP) Targets:
TP1: 0.265 ๐ฏ
TP2: 0.248 ๐
TP3: 0.225 ๐
Stop Loss (SL): 0.305 (Exit if the structure breaks bullish)
Risk Warning: ADA can be highly volatile during market liquidations. Always use proper risk management and never over-leverage. DYOR!
Are you shorting the continuation or waiting for a major support retest? Drop your strategy! ๐
#ADA #Cardano #CryptoAnalysis #BinanceSquare #Write2Earn
Click here to Trade ๐๐๐๐ ๐๐
