Hi! Let’s analyze Cardano (ADA) and create a trading strategy!Current Price: $1.120
All-Time High (ATH): $3.10
RSI: Approaching the overbought zone, which could lead to a short-term pullback.
What’s on the chart?
Cardano is maintaining its strong upward momentum, moving confidently within a bullish trend. The breakout of key resistance levels is supported by increasing trading volumes. However, technical indicators suggest that a short-term correction might occur before the next upward move.
When I analyze the market, I always focus on a few critical aspects:
1️⃣ Trend: ADA is currently in a strong uptrend, supported by increasing volumes and strong buyer activity.
2️⃣ Support and Resistance Levels: Key resistance is around $1.30, while support is located at $1.10 and $1.00.
3️⃣ Volume: Rising trading volumes confirm the strength of the current trend.
4️⃣ Indicators: RSI (Relative Strength Index) is nearing the overbought zone, signaling the possibility of a short-term correction.
I rely heavily on Midas Multi Indicator, which helps me see:
Entry and exit points.
Market manipulations by big players.
Support and resistance levels.
This tool saves time and provides a clearer understanding of the market. However, it’s important to remember that it’s just a tool, not a magic button. You still need to think critically and analyze the market yourself.
My Trading Plan:
Buying Strategy:
Enter partially at the current levels.
Set limit orders at $1.10 and $1.00 to average in case of a short-term correction.
Selling Strategy:
Take partial profits around $1.50 - $1.65 (the next resistance zone).
Hold the remaining position for a potential move back to $3.10 (ATH) or even higher if the trend continues.
Important Reminder:
I’m sharing my actions and strategy, but this is not financial advice. Every decision you make should be well-thought-out. I trade with my own capital and take full responsibility for my mistakes.
Trading based solely on other people’s signals is not a sustainable approach. No one can choose the perfect entry or exit points for you. Tools like Midas Multi Indicator can help you better understand the market, but it’s essential to use your own logic and analysis alongside them.
Risks and Opportunities:
Risk Level: Moderate (a correction could happen at any time).
Timeframe: 2–6 weeks.
Potential Profit: +165% if ADA retests its ATH.
Let’s Discuss!
What are your entry points and targets for ADA? Share your thoughts in the comments — let’s analyze and find the best opportunities together!
And, of course, don’t forget to like this post 🚀 if you found it useful! Your feedback motivates me to share even more valuable insights.
