๐ท $ADA 1H: stuck mid-range, NO TRADE yet
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๐ State: ADA trades 0.1749 (-2.2% 24h). The 1H sits below EMA200 (0.1823) and the 4H is well under EMA200 (0.2054), so the bigger trend is still down. Since Nov 8 price has mostly stayed between 0.170 and 0.180, apart from one spike to 0.1833 on Nov 9.
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๐ Levels:
Resistance: 0.1790-0.1798 (range lid), then 0.1833 (Nov 9 high).
Support: 0.1702-0.1714 (lows on Nov 8, 9 and 10).
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๐ซ Why no trade: price is in the middle of the box. A long here has its stop under 0.170 and only the lid as a target, which is under 1.5R. A short has the same problem in reverse.
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๐ What changes the bias: a 1H close above 0.1798 opens 0.1833. A 1H close below 0.1702 breaks a floor tested three times. A fourth test of that floor makes a break more likely.
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๐ง Confidence: low until one edge breaks. ATR(1H) is 0.0019, about 1.1% of price.
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Not financial advice. DYOR.
#ADA #Cardano #TechnicalAnalysis #BinanceSquare
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๐ State: ADA trades 0.1749 (-2.2% 24h). The 1H sits below EMA200 (0.1823) and the 4H is well under EMA200 (0.2054), so the bigger trend is still down. Since Nov 8 price has mostly stayed between 0.170 and 0.180, apart from one spike to 0.1833 on Nov 9.
โ
๐ Levels:
Resistance: 0.1790-0.1798 (range lid), then 0.1833 (Nov 9 high).
Support: 0.1702-0.1714 (lows on Nov 8, 9 and 10).
โ
๐ซ Why no trade: price is in the middle of the box. A long here has its stop under 0.170 and only the lid as a target, which is under 1.5R. A short has the same problem in reverse.
โ
๐ What changes the bias: a 1H close above 0.1798 opens 0.1833. A 1H close below 0.1702 breaks a floor tested three times. A fourth test of that floor makes a break more likely.
โ
๐ง Confidence: low until one edge breaks. ATR(1H) is 0.0019, about 1.1% of price.
โ
Not financial advice. DYOR.
#ADA #Cardano #TechnicalAnalysis #BinanceSquare
