$ADA: Weak Bounce, More Downside Ahead?
Cardano is showing signs of a weak recovery, but I'm not convinced the bearish pressure is over.
My broader outlook remains cautious, with $0.175 as a potential downside target over the coming weeks.
My Trading Plan:
- Bias: Bearish
- Downside Target: $0.175
- Current Position: No entry
- Strategy: Wait for a stronger relief rally before considering a SHORT
I'm not interested in chasing the price lower. A temporary bullish move into resistance could offer a better opportunity to evaluate a bearish entry.
However, a sustained breakout above resistance would weaken this scenario.
Patience is the priority. No confirmation, no trade.
Do you think $ADA will revisit $0.175, or are buyers preparing a stronger recovery?
$ADA
Cardano is showing signs of a weak recovery, but I'm not convinced the bearish pressure is over.
My broader outlook remains cautious, with $0.175 as a potential downside target over the coming weeks.
My Trading Plan:
- Bias: Bearish
- Downside Target: $0.175
- Current Position: No entry
- Strategy: Wait for a stronger relief rally before considering a SHORT
I'm not interested in chasing the price lower. A temporary bullish move into resistance could offer a better opportunity to evaluate a bearish entry.
However, a sustained breakout above resistance would weaken this scenario.
Patience is the priority. No confirmation, no trade.
Do you think $ADA will revisit $0.175, or are buyers preparing a stronger recovery?
$ADA
