$ADA: Bearish Divergence Spotted on Downside Targets Ahead
SHORT SETUP ADA
Entry: $0.22850 - $0.22900
Stop Loss: $0.23730
Take Profit: $0.21165 (2R)
Key Levels: Support $0.22660 | Resistance $0.23730
Technical Analysis for $ADA: MACD sits below its signal line and the histogram is negative, confirming bearish momentum. Price is under the EMA9, EMA21, EMA50 and EMA200, reinforcing a downtrend. RSI at 35.6 and Stochastic K at 18 indicate oversold conditions, while ADX below 20 shows a weak trend. The order book shows a 40% bid imbalance, supporting short bias.
Market Context: BTC is in a bearish 4hour trend and the broader market is broadly negative, with 91% of assets in red.
SHORT $ADA
SHORT SETUP ADA
Entry: $0.22850 - $0.22900
Stop Loss: $0.23730
Take Profit: $0.21165 (2R)
Key Levels: Support $0.22660 | Resistance $0.23730
Technical Analysis for $ADA: MACD sits below its signal line and the histogram is negative, confirming bearish momentum. Price is under the EMA9, EMA21, EMA50 and EMA200, reinforcing a downtrend. RSI at 35.6 and Stochastic K at 18 indicate oversold conditions, while ADX below 20 shows a weak trend. The order book shows a 40% bid imbalance, supporting short bias.
Market Context: BTC is in a bearish 4hour trend and the broader market is broadly negative, with 91% of assets in red.
SHORT $ADA