Technical analysis by Alexgoldhunter about Symbol ADA: Buy recommendation (12/27/2024)

ADAUSDT Cardano (ADA) Poised for Breakout: Key Levels and Indicators to WatchAnalysis: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: 0.906tp1: 0.950tp2: 1.000sl: 0.875Follow Alexgoldhunter for more strategic ideas and mindsentry: 0.906SL HITCLOSE ALL TRADES