ADA Long Spot Trade (Support Zone Retest)
2024-11-28

Market Context:
ADA has retraced to a major support zone, presenting a solid opportunity for a long position. The current levels align with historical price action, suggesting a favorable risk-to-reward ratio.

Trade Details:
Entry Zone:

Primary: $0.89 - $0.96
Secondary: $0.70 - $0.79
Take Profit Targets:

Target 1: $1.05 - $1.16
Target 2: $1.50 - $1.60

Stop Loss:
Level: Just below $0.60

Rationale:
Support Zone: ADA is consolidating at a robust support area, where price action suggests potential for a reversal.

Risk Management: A stop loss just below $0.60 ensures protection against downside risks while allowing room for market fluctuations.
Potential Upside: The targets align with prior resistance levels and psychological barriers, providing a clear roadmap for profit-taking.
