$ADA
ADA has gained support! Is it time for a relief bounce? 🚀
Post content:
$ADA has seen a significant decline, dropping by more than 6% in the last 24 hours. However, looking at the one-hour chart, we see signs of life at the local bottom!
Technical setup:
Bounce: ADA found strong support at $0.3272 and is currently pushing upward towards $0.3355.
RSI Recovery: RSI (10) sits around 38, indicating that the asset has been oversold recently and is now trying to adjust.
Bollinger Bands: The price is moving away from the lower band and heading towards the middle line at $0.3423 (MB).
KDJ Signal: We see a bullish "golden cross" forming on the KDJ indicator, suggesting that upward momentum is increasing.
🎯 My trading plan:
Aggressive entry: $0.3340 - $0.3360
Safe entry: Wait for the candle to close above $0.3360
Take profit 1: $0.3420 (first major resistance)
Take profit 2: $0.3500 (psychological level)
Take profit 3: $0.3580 (upper Bollinger band)
🛡️ Risk management:
Stop loss: $0.3260 (below the last bottom)
Market sentiment:
Trading volume shows good buying interest at these low levels. If Bitcoin remains stable, ADA could easily fill the gap back to $0.3500.
Are you buying the dip or waiting for the downtrend? Let me know your strategy below! 👇