Cardano (ADA) is showing signs of short-term exhaustion after a strong rally, currently trading around $0.7796. Price has tapped into a clearly defined supply zone ($0.7957), and multiple rejections hint at bearish pressure building.
Key Levels:
Supply Zone: $0.7900 – $0.7960 (strong resistance zone)
Mid-Level Support: $0.7277 (previous resistance now flipped to support)
Demand Zone: $0.6500 – $0.6620 (accumulation zone, potential re-entry)
Technical Signals:
Multiple upper wicks within supply zone
Bearish divergence forming on lower timeframes (watch RSI/MACD)
Volume weakening at recent highs
Trade Plan (Short Bias):
Short from $0.7850–$0.7900
SL: $0.8000 (above supply zone)
TP1: $0.7280
TP2: $0.6620
Alternative View:
Break and close above $0.8000 with strong volume would invalidate this setup and signal bullish continuation.
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#ADAUSD #Cardano #CryptoAnalysis #TechnicalAnalysis #PriceAction #LuxAlgo #SupportAndResistance #BearishSetups #CryptoTraders
Key Levels:
Supply Zone: $0.7900 – $0.7960 (strong resistance zone)
Mid-Level Support: $0.7277 (previous resistance now flipped to support)
Demand Zone: $0.6500 – $0.6620 (accumulation zone, potential re-entry)
Technical Signals:
Multiple upper wicks within supply zone
Bearish divergence forming on lower timeframes (watch RSI/MACD)
Volume weakening at recent highs
Trade Plan (Short Bias):
Short from $0.7850–$0.7900
SL: $0.8000 (above supply zone)
TP1: $0.7280
TP2: $0.6620
Alternative View:
Break and close above $0.8000 with strong volume would invalidate this setup and signal bullish continuation.
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#ADAUSD #Cardano #CryptoAnalysis #TechnicalAnalysis #PriceAction #LuxAlgo #SupportAndResistance #BearishSetups #CryptoTraders
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Penafian
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