$ADA: considering a decline after a return to $0.168–0.176
ADA remains in a downtrend: highs and lows on the 4-hour chart are declining. Previous support levels above the price may attract selling on a bounce. Oversold conditions are a reason to wait for a rally to resistance.
The main area to watch is $0.168–0.176. This is where the nearest price-retracement zones and seller reactions converge. We would consider an entry after the price fails to continue rising and a downward reversal is confirmed on a lower timeframe.
After a new entry, the nearest targets are $0.1655–0.1620, followed by $0.1550. If the trend continues, we would consider $0.1380–0.1324 as a distant target area. The decline to the nearest levels that has already occurred is not counted as the result of a trade that has not yet been opened.
A 4-hour candle closing above $0.183 would invalidate the main idea of selling from the nearby zone. The higher area of $0.1837–0.1880 remains the next resistance, but selling from there would require a fresh assessment of the structure and risk. A stop above $0.183 does not apply to such an entry.
We are considering a potential continuation of the decline over a 1–3 week horizon. We are not resuming old support-based buys under this scenario.
#ADA #BTC #HYPE
ADA remains in a downtrend: highs and lows on the 4-hour chart are declining. Previous support levels above the price may attract selling on a bounce. Oversold conditions are a reason to wait for a rally to resistance.
The main area to watch is $0.168–0.176. This is where the nearest price-retracement zones and seller reactions converge. We would consider an entry after the price fails to continue rising and a downward reversal is confirmed on a lower timeframe.
After a new entry, the nearest targets are $0.1655–0.1620, followed by $0.1550. If the trend continues, we would consider $0.1380–0.1324 as a distant target area. The decline to the nearest levels that has already occurred is not counted as the result of a trade that has not yet been opened.
A 4-hour candle closing above $0.183 would invalidate the main idea of selling from the nearby zone. The higher area of $0.1837–0.1880 remains the next resistance, but selling from there would require a fresh assessment of the structure and risk. A stop above $0.183 does not apply to such an entry.
We are considering a potential continuation of the decline over a 1–3 week horizon. We are not resuming old support-based buys under this scenario.
#ADA #BTC #HYPE