ADA/USDT – Bearish Reaction from Key Channel Resistance | Short Opportunity
Bias: Short Setup (Counter-Trend)
Cardano (ADA) has reached a significant technical juncture following a strong bullish impulse. Price has tapped into a critical resistance zone marked by:
The upper boundary of a broadening ascending channel
A horizontal liquidity pocket at 0.6195, labeled as “Level 1”
An extended impulsive move without consolidation, suggesting potential overextension
📌 Key Price Levels
Resistance (Short Entry Zone):
Level 1: 0.6195 USDT
Bearish Targets (Take Profits):
TP1: 0.6017 – Local support & minor demand
TP2: 0.5939 – Mid-range value zone
TP3: 0.5842 – Confluence of wedge support & previous demand
The structure resembles a rising broadening wedge, typically a bearish reversal formation, especially after a sharp leg into resistance.
The breakout from the smaller consolidation wedge has now run into major supply, where early short entries may begin to scale in.
Bias: Short Setup (Counter-Trend)
Cardano (ADA) has reached a significant technical juncture following a strong bullish impulse. Price has tapped into a critical resistance zone marked by:
The upper boundary of a broadening ascending channel
A horizontal liquidity pocket at 0.6195, labeled as “Level 1”
An extended impulsive move without consolidation, suggesting potential overextension
📌 Key Price Levels
Resistance (Short Entry Zone):
Level 1: 0.6195 USDT
Bearish Targets (Take Profits):
TP1: 0.6017 – Local support & minor demand
TP2: 0.5939 – Mid-range value zone
TP3: 0.5842 – Confluence of wedge support & previous demand
The structure resembles a rising broadening wedge, typically a bearish reversal formation, especially after a sharp leg into resistance.
The breakout from the smaller consolidation wedge has now run into major supply, where early short entries may begin to scale in.
Telegram: t.me/Crypto_Sheykh
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Telegram: t.me/Crypto_Sheykh
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.