• Direction: Short, watching for a break below 0.1715 with sustained downside momentum
• Goal: Approximately 0.1650
• Cancel: Price moving above 0.1780
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Resistance levels: 0.1825, 0.2015
Support levels: 0.1715
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ADA keeps returning to 0.1715, while rebounds struggle to develop into a sustained recovery. Against the broader sequence of lower highs, this repeated pressure strengthens my preference for a downside break. Support is still holding, but buyers have yet to create meaningful distance from it.
The important distinction is follow-through. A break below 0.1715 followed by continued selling would support a move toward approximately 0.1650, where the projected decline ends on the chart. If the push lower is weak and price quickly reclaims support, I would treat that as a potential false breakdown and step back from the short scenario. That alternative could open a recovery toward 0.1825.
Cardano’s on-chain liquidity backdrop also deserves attention. DefiLlama shows stablecoin supply on the network down roughly 1.1% over seven days, alongside falling dollar-denominated TVL across several major protocols. This offers limited evidence of fresh capital supporting a recovery, although declining token prices can also reduce TVL. I see that as supporting context for caution, while the reaction around 0.1715 remains the deciding factor.
❗ This setup is for educational purposes and outlines a potential trading plan. A trade may follow if the conditions develop. This is not financial advice. Trading carries risk, so please protect your capital and manage your own risk!
• Goal: Approximately 0.1650
• Cancel: Price moving above 0.1780
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Resistance levels: 0.1825, 0.2015
Support levels: 0.1715
----------------------------------------
ADA keeps returning to 0.1715, while rebounds struggle to develop into a sustained recovery. Against the broader sequence of lower highs, this repeated pressure strengthens my preference for a downside break. Support is still holding, but buyers have yet to create meaningful distance from it.
The important distinction is follow-through. A break below 0.1715 followed by continued selling would support a move toward approximately 0.1650, where the projected decline ends on the chart. If the push lower is weak and price quickly reclaims support, I would treat that as a potential false breakdown and step back from the short scenario. That alternative could open a recovery toward 0.1825.
Cardano’s on-chain liquidity backdrop also deserves attention. DefiLlama shows stablecoin supply on the network down roughly 1.1% over seven days, alongside falling dollar-denominated TVL across several major protocols. This offers limited evidence of fresh capital supporting a recovery, although declining token prices can also reduce TVL. I see that as supporting context for caution, while the reaction around 0.1715 remains the deciding factor.
❗ This setup is for educational purposes and outlines a potential trading plan. A trade may follow if the conditions develop. This is not financial advice. Trading carries risk, so please protect your capital and manage your own risk!
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.