altFINS

ADA: Pullback in Uptrend

Long
BINANCE:ADAUSDT   Cardano / TetherUS
Trade setup: Price remains in an Uptrend. It reached $0.80 resistance but got rejected 2x (Double Top pattern – bearish) and pulled back, breaking below $0.65-0.68 key level. We would be buyers near $0.57 support, which could be a swing trade entry opportunity in Uptrend, with +15% upside potential back to $0.65-$0.65 near-term. Stop Loss (SL) level at $0.52.

Trend: Neutral on Short- and Medium-Term basis and Uptrend on Long-Term basis.

Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral). MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing.

Support and Resistance: Nearest Support Zone is $0.57, then $0.46. The nearest Resistance Zone is $0.65 - $0.68, then $0.80.

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