TradeCityPro | ADAUSDT Is It Time to Buy Cardano?👋 Welcome to TradeCityPro Channel!
Let’s dive in and analyze one of the market’s favorite coins, Cardano (ADA), which is in a strong position compared to most altcoins and is holding at higher resistance levels.
🌐 Overview Bitcoin
Before starting the analysis, I want to remind you again that we moved the Bitcoin analysis section from the analysis section to a separate analysis at your request, so that we can discuss the status of Bitcoin in more detail every day and analyze its charts and dominances together.
This is the general analysis of Bitcoin dominance, which we promised you in the analysis to analyze separately and analyze it for you in longer time frames.
Bitcoin Chart
📊 Weekly Timeframe
On the weekly time frame, ADA, like SOL, SUI, XRP, and most of the top ten coins in the market, is still in a better situation, with the price fluctuating at higher levels.
After being rejected at 1.1983 and losing support at 0.7959, we experienced a sharp drop to 0.50, driven by panic in the market due to Trump and U.S. tariffs on other countries.
Currently, in the weekly time frame, we’re still at higher levels compared to most of the market, and we can expect a strong move going forward. It’s worth noting that breaking 1.1988 will provide the best trigger for a buy.
📈 Daily Timeframe
Interesting things are happening on the daily time frame, and we’re clearly still at higher levels than other altcoins. If the market itself undergoes a trend change, we can be ready for a long trigger sooner.
After breaking 0.8204 and losing the 0.236 Fibonacci level, we experienced a sharp decline that also saw high volume. I expected that after this volume, we’d transition from volatility to forming a range box, and that’s exactly what’s happening. We’re forming a box between 0.6777 and 0.8204, but if today’s daily candle closes as it is, the downtrend will continue!
Additionally, after this event, we had a break of the support floor that turned out to be a fakeout, leading us to establish a new support level. Currently, our most important support is 0.6090, and we’re moving along a daily trendline. If we bounce from this trendline and break the 0.8419 resistance, it will be the best trigger for a buy. On the other hand, if the support breaks and we lose the 0.7417 low, we can go for a short position.
📝 Final Thoughts
Stay calm, trade wisely, and let's capture the market's best opportunities!
This analysis reflects our opinions and is not financial advice.
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