Technical analysis by ThetaNomad about Symbol ADA: Buy recommendation (14 hour ago)

Hi all! ADAUSDT looks primed for an upside breakout in continuation of its higher timeframe trend. Price has been compressing and consolidating around 0.8500 — which lines up with the 0.5 HTF Fibonacci retracement. 📌 Upside Targets: First objective: sweep the weak high from 14 August and fill the imbalance around 1.0400. If sentiment stays bullish, the next target is the 1.1000 zone, which aligns with the 0.886 HTF Fibonacci retracement. 📌 Entry Trigger: Look for a 1H close above 0.8700. That would confirm short-term bullish sentiment and open the path higher. 📌 Confluences Supporting the Long Bias: Fibonacci Confluence → 0.5 retracement support at 0.8500 + 0.886 retracement at 1.1000. Intermarket Correlation → ADA has a ~85% correlation with ETHUSDT and a ~79% correlation with BTCUSDT. With ETH showing bullish structure, ADA statistically tends to follow. Open Interest Dynamics → OI has been bleeding out since 20 Aug, yet price barely reacts. Leverage is being flushed out, but spot/passive buying keeps absorbing liquidity. CVD Data → Both CVD spot and CVD futures are trending down while price holds firm and even swings higher. This hidden bullish divergence = absorption in action. 📌 Invalidation: A daily/1H close below 0.8420 invalidates the setup. ⚠️ My View: The confluence here is strong — Fibonacci structure, intermarket correlation, OI flush, and CVD absorption all point to underlying strength. Until 0.8420 breaks, I’m leaning bullish with eyes on 1.0400 first, then 1.1000.Active. Like i said, opened a position at 0.8700