Yello, Paradisers! Is this breakout on #Cardano the start of a major upside move or just another bull trap waiting to flush out impatient traders? Let’s break down the latest #ADAUSDT setup:
💎After weeks inside a falling broadening wedge, #ADA finally broke above the descending resistance, signaling a potential trend reversal. The breakout above $0.70 has pushed the price toward the current $0.74 zone. The soaring volume and a positive broader market outlook reinforce our bullish bias. While this looks bullish, the key question is whether #ADAUSD will hold above its reclaimed support or retest lower levels first.
💎The structure is straightforward: #ADA reclaimed the support zone around $0.70 after bouncing strongly from the demand zone near $0.61–$0.60. This demand zone remains the critical area to watch—any healthy retest here would provide a high-probability continuation setup for bulls.
💎If buyers maintain control, the first target sits at the moderate resistance of $0.86. That’s where the next notable selling pressure is expected. But the real battle will take place near the strong resistance at $1.08—a zone where major distribution and profit-taking could occur.
💎However, the bullish setup becomes invalid if #ADAUSD loses the $0.61–$0.60 demand zone. A confirmed close below $0.538 would flip the structure bearish, signaling a potential continuation to lower lows.
Stay patient, Paradisers. Let the breakout confirm, and only then do we strike with conviction.
MyCryptoParadise
iFeel the success🌴
💎After weeks inside a falling broadening wedge, #ADA finally broke above the descending resistance, signaling a potential trend reversal. The breakout above $0.70 has pushed the price toward the current $0.74 zone. The soaring volume and a positive broader market outlook reinforce our bullish bias. While this looks bullish, the key question is whether #ADAUSD will hold above its reclaimed support or retest lower levels first.
💎The structure is straightforward: #ADA reclaimed the support zone around $0.70 after bouncing strongly from the demand zone near $0.61–$0.60. This demand zone remains the critical area to watch—any healthy retest here would provide a high-probability continuation setup for bulls.
💎If buyers maintain control, the first target sits at the moderate resistance of $0.86. That’s where the next notable selling pressure is expected. But the real battle will take place near the strong resistance at $1.08—a zone where major distribution and profit-taking could occur.
💎However, the bullish setup becomes invalid if #ADAUSD loses the $0.61–$0.60 demand zone. A confirmed close below $0.538 would flip the structure bearish, signaling a potential continuation to lower lows.
Stay patient, Paradisers. Let the breakout confirm, and only then do we strike with conviction.
MyCryptoParadise
iFeel the success🌴
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🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Want to trade like a PRO without the 15+ year learning curve?
🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.