🔄 Cardano (ADA) Consolidation and Potential Upside Trade Setup!
📊 Analysis:
Consolidation Phase: ADA has been consolidating sideways for almost two weeks, indicating a potential accumulation phase.
Key Level: Watching the $0.75 level closely for a breakout, which could signal a push up to the next area of resistance.
Entry Point: Consider entry with a break of the $0.75 level, entering into a long spot trade.
Upside Target: The next area of resistance is at $1.18 - $1.25.
Stop Loss: Place a stop loss just below $0.68.
🌐 Note: Given the overall market conditions and the potential for a correction, it's essential to manage risk closely. Keep an eye on market dynamics and any news that may impact ADA.
Consolidation Phase: ADA has been consolidating sideways for almost two weeks, indicating a potential accumulation phase.
Key Level: Watching the $0.75 level closely for a breakout, which could signal a push up to the next area of resistance.
Entry Point: Consider entry with a break of the $0.75 level, entering into a long spot trade.
Upside Target: The next area of resistance is at $1.18 - $1.25.
Stop Loss: Place a stop loss just below $0.68.
🌐 Note: Given the overall market conditions and the potential for a correction, it's essential to manage risk closely. Keep an eye on market dynamics and any news that may impact ADA.