Action:
- Long Position
- Short Position
Entry Range:
- Long: $0.875 - $0.890
- Short: $0.835 - $0.820
TP:
- Long: $0.920 - $0.975.
- Short: $0.805 - $0.780.
Analysis:
Cardano (ADA) has shown a modest 24-hour price fluctuation (0.09%), signaling potential consolidation within the $0.835 - $0.8962 range. This zone aligns with key Fibonacci retracement levels and historical resistance/support points. The 24-hour trading volume ($977.28M) and high Vol/Mkt Cap ratio (3.25%) indicate sufficient liquidity for scalping strategies.
- A bullish breakout above $0.890 could open the door for a quick long trade to capitalize on momentum towards $0.920 or higher.
- Conversely, a bearish break below $0.835 could signal an opportunity for a short trade as the price heads toward $0.805.
- Monitor RSI and MACD for confirmation of momentum shifts before entering positions.
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