$ADA
ADAUSDT — Testing Critical Support at Range Low
ADAUSDT is trading near $0.3356, testing the crucial $0.3350-$0.3400 support zone after rejecting from the $0.3550 resistance level. This support area has held multiple times in recent weeks and represents the lower boundary of ADA's current trading range.
Trade Plan
Entry (Long): $0.3330 - $0.3380 (Accumulate at range low support)
Target 1: $0.3500 (Range midpoint and immediate resistance)
Target 2: $0.3550 - $0.3600 (Range high and next resistance zone)
Stop Loss: $0.3290 (Below range low and recent swing low)
My View
ADA is in a clear range-bound structure between approximately $0.3350 and $0.3550. This long setup at range low offers a favorable risk-reward for a bounce back toward the range high. A break below $0.3290 would invalidate the range structure and likely lead to a test of lower supports near $0.3200. Given ADA's typical volatility, position sizing should account for potential whipsaw action at this key level.
