$ADA: Breaks Below Critical Support: Further Drop Expected
SHORT SETUP ADA
Entry: $0.22250 - $0.22320
Stop Loss: $0.23100
Take Profit: $0.20655 (2R)
Key Levels: Support $0.21860 | Resistance $0.22320
Technical Analysis for $ADA: Short bias. Price sits below EMA9/21/50/200, confirming downtrend. ADX at 34 shows strong trend. MACD histogram negative and RSI at 33 points to bearish momentum. Stochastic in oversold zone but still below 20. Immediate resistance at 0.2232 and support at 0.2186 frame the swing structure. Orderbook shows a 26% bid imbalance, adding further downside pressure.
Market Context: BTC is in a bearish 4hour trend and down 2.7% on the day, while the broader market is broadly negative with 90%
SHORT $ADA
SHORT SETUP ADA
Entry: $0.22250 - $0.22320
Stop Loss: $0.23100
Take Profit: $0.20655 (2R)
Key Levels: Support $0.21860 | Resistance $0.22320
Technical Analysis for $ADA: Short bias. Price sits below EMA9/21/50/200, confirming downtrend. ADX at 34 shows strong trend. MACD histogram negative and RSI at 33 points to bearish momentum. Stochastic in oversold zone but still below 20. Immediate resistance at 0.2232 and support at 0.2186 frame the swing structure. Orderbook shows a 26% bid imbalance, adding further downside pressure.
Market Context: BTC is in a bearish 4hour trend and down 2.7% on the day, while the broader market is broadly negative with 90%
SHORT $ADA