Is ADA’s Bullish Momentum Just Getting Started?
2024-10-02


 Technical Analysis: 

 1. Price Structure and Key Levels: 
 
 The price of  ADA/USDT  is currently in a potential reversal phase after bouncing from the  2800  support level.
 The price is now moving towards the next resistance target of  4570 . A breakout above this level would confirm the start of a stronger bullish trend.
 Holding above  2800  is essential for maintaining bullish momentum. A drop below this level could suggest a deeper retracement.
 

 2. Oscillator: 
 
 The Smooth OSC is displaying a  bullish divergence , indicating that momentum has shifted in favor of buyers.
 The momentum indicator is strengthening, showing that bullish pressure is increasing as the price progresses upwards.
 

 3. Key Levels and Entry Points: 
 
 Support Zone:  The current support level is at  2800 . As long as the price stays above this zone, the bullish trend has a higher probability of continuation.
 Resistance Zone:  The main resistance to watch is at  4570 . A confirmed breakout above this level would signal further bullish potential.
 

 4. Targets and Resistance Levels: 
 
 If the price breaks and holds above the  4570  resistance level, the next major target is  8104 , aligning with prior swing highs and key resistance zones.
 If the  2800  support fails, the price may see a deeper correction, testing lower levels for potential accumulation.
 

 Conclusion: 
 
 ADA/USDT  is showing signs of a bullish reversal, with momentum picking up and the price approaching key levels. The next major target is  8104 , and a successful breakout could lead to further gains.
 Keep an eye on the  2800  support. A breakdown could indicate a potential return to a bearish phase.
 

👨🏻‍💻💭 Do you think ADA has what it takes to push past resistance? Let’s brainstorm below and catch the next big wave!

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