Is ADA’s Bullish Momentum Just Getting Started?

前天

Technical Analysis:

1. Price Structure and Key Levels:

• The price of ADA/USDT is currently in a potential reversal phase after bouncing from the 2800 support level.
  
• The price is now moving towards the next resistance target of 4570. A breakout above this level would confirm the start of a stronger bullish trend.
  
• Holding above 2800 is essential for maintaining bullish momentum. A drop below this level could suggest a deeper retracement.
  

2. Oscillator:

• The Smooth OSC is displaying a bullish divergence, indicating that momentum has shifted in favor of buyers.
  
• The momentum indicator is strengthening, showing that bullish pressure is increasing as the price progresses upwards.
  

3. Key Levels and Entry Points:

• Support Zone: The current support level is at 2800. As long as the price stays above this zone, the bullish trend has a higher probability of continuation.
  
• Resistance Zone: The main resistance to watch is at 4570. A confirmed breakout above this level would signal further bullish potential.
  

4. Targets and Resistance Levels:

• If the price breaks and holds above the 4570 resistance level, the next major target is 8104, aligning with prior swing highs and key resistance zones.
  
• If the 2800 support fails, the price may see a deeper correction, testing lower levels for potential accumulation.
  

Conclusion:

• ADA/USDT is showing signs of a bullish reversal, with momentum picking up and the price approaching key levels. The next major target is 8104, and a successful breakout could lead to further gains.
  
• Keep an eye on the 2800 support. A breakdown could indicate a potential return to a bearish phase.
  

👨🏻‍💻💭 Do you think ADA has what it takes to push past resistance? Let’s brainstorm below and catch the next big wave!

_________________________________________________________________
The information and publications within the 3Commas TradingView account are not meant to be and do not constitute financial, investment, trading, or other types of advice or recommendations supplied or endorsed by 3Commas and any of the parties acting on behalf of 3Commas, including its employees, contractors, ambassadors, etc.