Hi everyone!
Analyzing the current price action, we observe that the asset is positioned near the lower end of the 0.382 Fibonacci retracement level. It has reached the top of a descending channel and is beginning to retrace from its local high, signaling potential bearish momentum.
Additionally, Bitcoin currently exhibits a bearish outlook, with a CME gap below the $90k area, which could act as a magnet for further downside. Furthermore, Bitcoin is trading near a significant resistance level, rejected 3–4 times on the 1-hour chart around the $96–97k range. Since Bitcoin strongly influences altcoins, this bearish pressure could spill over into the broader market.
As for ADAUSDT, we can see it forming a descending channel after hitting its local high, further reinforcing the bearish narrative.
Proposed Targets:
TP1: 0.9435
TP2: 0.9070
TP3: 0.8750
This setup is supported by technical analysis, Fibonacci retracement levels, and the overall market structure. As always, ensure proper risk management and confirm this setup with your
own analysis before executing the trade.
Analyzing the current price action, we observe that the asset is positioned near the lower end of the 0.382 Fibonacci retracement level. It has reached the top of a descending channel and is beginning to retrace from its local high, signaling potential bearish momentum.
Additionally, Bitcoin currently exhibits a bearish outlook, with a CME gap below the $90k area, which could act as a magnet for further downside. Furthermore, Bitcoin is trading near a significant resistance level, rejected 3–4 times on the 1-hour chart around the $96–97k range. Since Bitcoin strongly influences altcoins, this bearish pressure could spill over into the broader market.
As for ADAUSDT, we can see it forming a descending channel after hitting its local high, further reinforcing the bearish narrative.
Proposed Targets:
TP1: 0.9435
TP2: 0.9070
TP3: 0.8750
This setup is supported by technical analysis, Fibonacci retracement levels, and the overall market structure. As always, ensure proper risk management and confirm this setup with your
own analysis before executing the trade.
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。