Cardano (ADA) – Potential Rebound or Further Decline?

2月3日

hello guys!

such a day!
let's look at ADA!

Breakdown from the Ascending Channel:
The price has fallen below the ascending channel, signaling a potential bearish trend continuation.
A key support level around 0.7765 was broken, and the price is now testing lower regions.

Two Possible Scenarios:

1. Bullish Rebound: If the price reclaims 0.7765, a retest of higher levels like 0.95 - 1.00 USDT is possible.
   
2. Bearish Continuation: If rejection occurs, price could drop further towards the 0.4836 Fibonacci level and even 0.2910 as the next demand zone.
   

Key Support and Resistance Zones:
Resistance: 0.7765 - 0.80 USDT (previous support, now resistance).
Support: 0.63 USDT, 0.48 USDT, and 0.29 USDT (major demand zones).

Trading Outlook:
Bullish Case: A successful reclaim of 0.7765 could lead to a price recovery.
Bearish Case: Failure to hold current levels may result in further downside.
Traders should monitor price action near 0.63 USDT for confirmation of the next move.

2月4日

註釋

the last candle is like a liquidity provider!