$ADA
$ADA Bullish Recovery? Key Levels to Watch! 🚀
Technical Analysis Update:
Cardano ($ADA) is showing strong signs of a recovery on the 1-hour chart. After testing the support at $0.3815, the price has bounced back and is currently trading around $0.3975.
Key Technical Insights:
Bollinger Bands: Price is currently trading above the Middle Band ($0.3919), indicating that the short-term trend has shifted from bearish to bullish.
MACD: We are seeing a positive crossover with green histogram bars forming. This suggests that buying momentum is picking up.
RSI (10): Currently sitting at 60.84. It’s not in the overbought zone yet, meaning there is still "room to run" before the market feels overextended.
KDJ: The J-line is pointing sharply upwards, confirming high buying pressure in the immediate timeframe.
Trading Levels:
🎯 Immediate Resistance: $0.4036. A breakout above this level could lead to a quick move toward $0.4150.
🛡️ Major Support: $0.3815. As long as we stay above this, the recovery remains intact.
Market Sentiment:
The bulls are currently in control. If BTC remains stable, ADA looks ready to challenge the $0.40 psychological barrier very soon.
What’s your move? Are you Long or Short on ADA? Let me know in the comments! 👇
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