ADA — Is Cardano Ready to Break $1?ADA is coiling just beneath the $1 psychological barrier. The chart is setting up for a decisive move: the high-probability long entry aligns with the yearly open (yOpen), supported by multiple confluences.
🧩 Confluence Factors: 7
Yearly Open (yOpen): $0.845
1.0 Trend-Based Fib Extension: $0.8466 (aligned with yOpen)
Weekly Bullish Order Block: $0.8580
0.618 Fib Retracement: $0.8626
Anchored VWAP (green line): Supporting this zone
Sell-Side Liquidity (SSL): Positioned below recent lows
0.886 Fib Speed Fan: Adding further structural support
🟢 Long Trade Setup
Entry Zone: $0.863 – $0.847
Stop-Loss: Below yOpen (~$0.84)
Take-Profit Zone: $1.1747 (Buy-Side Liquidity sweep)
R:R: 1.6+ depending on SL placement
🔴 Short Opportunity
A secondary setup could arise on a sweep of the key high ($1.1757–$1.1879 BSL zone). This would only be valid with confirmation of rejection.
Entry Zone: After sweep/rejection above $1.1747
Stop-Loss: Above ~$1.20 (post-sweep rejection)
Target: Around $1.10
✍️ Confirmation is critical: the long requires strong defense of the confluence zone, while the short requires a failed breakout and rejection above key high (BSL).
Key Levels to Watch:
Support Zone: $0.863 – $0.847
Resistance / GP Zone: $1.1757 – $1.1879
🔍 Indicators used:
DriftLine — Pivot Open Zones → For identifying key yearly/monthly/weekly/daily opens that act as major S/R reference points
➡️ Available for free. You can find it on my profile under “Scripts” and apply it directly to your charts for extra confluence when planning your trades.
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