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$ADA Currently hovering around 0.2435 USDT.
Do you think we should keep grinding higher, or is it about time for a pullback?
If I had to give a conclusion, I’d lean more towards: after a push higher, first shake out some traders.
Here’s my main perspective:
First, the price is close to the resistance zone, and the upside potential and risk-reward ratio are average.
Second, the buying momentum isn’t strong enough; a breakout still lacks that final push.
To add, the 15-minute structure is set, with confirmation on the 5-minute, and the 1-minute is only for fine-tuning entry points.
No 1-minute breakout without 5-minute confirmation, I won’t trade it.
A more comfortable entry point: 0.2454 USDT.
Estimated target price: 0.2308 USDT.
Stop-loss reference: 0.2513 USDT.
But the biggest risk at this level is that the resistance could be broken through with high volume directly.
If you were trading this, would you wait for a further move up and watch a bit longer, or just stay out?