đ ADA Long Setup in Focus đ
Trading Plan:
Bias: Long
Entry: 0.3450 - 0.3550
SL: 0.3400
TP1âTP3: 0.4100 / 0.4800 / 0.5500
Technical Analysis:
The current setup on the daily timeframe presents a potential mean reversion opportunity. The price is testing the lower Bollinger Band, which often acts as dynamic support, suggesting the asset is oversold on a short-term basis and may be due for a bounce towards the middle band. Further confirmation comes from the Relative Strength Index (RSI), which is in oversold territory, indicating waning bearish momentum. A potential bullish divergence may be forming as price makes new lows while momentum indicators fail to do the same, signaling a possible trend reversal or significant relief rally.
Invalidation:
Only a decisive break and close below 0.3400 would invalidate this bullish reversal scenario.
