ADAUSDT Cardano (ADA) Poised for Breakout: Key Levels and Indicators to Watch
Analysis:
Price Action Strategy:
Support and Resistance Levels:
The chart shows key support at approximately 0.85177 (1.618 Fibonacci level) and resistance at 0.90723 (0.5 Fibonacci level).
Trend Analysis:
The price is currently in a consolidation phase after a downtrend, with potential for a breakout above the 0.90723 resistance level.
Volume Analysis:
There is a noticeable increase in volume, indicating potential buying interest.
Smart Money Concepts (SMC):
Break of Structure (BOS):
A BOS is identified at the 0.90723 level, suggesting a potential shift in market structure.
Change of Character (CHOCH):
A CHOCH is observed, indicating a possible reversal from the previous downtrend.
Fair Value Gap (FVG):
An FVG is present around the 0.90723 level, which could act as a magnet for price.
ICT Strategy:
Order Blocks:
Multiple order blocks are identified, with a significant one around the 0.85177 level, indicating strong institutional interest.
Equal Highs:
The chart shows equal highs around the 0.90723 level, suggesting liquidity above this level.
Strong Low:
A strong low is identified, providing a potential support level for a bullish move.
Indicators:
RSI:
The RSI is currently at 65.50, indicating bullish momentum but approaching overbought territory.
MACD:
The MACD shows a bullish crossover, supporting the potential for upward movement.
Buy Signal:
entry: 0.906
tp1: 0.950
tp2: 1.000
sl: 0.875
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