Is ADA dropping badly? Don't worry, Hongcai has found that the main force is quietly accumulating at this price level!
Brothers, ADA has really dropped badly recently! It has fallen nearly 17% in a week and is still probing down today. But Hongcai tells you: don't panic! The more desperate everyone is, the more likely it is that an opportunity is just around the corner!
News: The Cardano Foundation has just approved a budget of 70 million to enhance the network. This is clearly good news, but the market is not buying it, what does that indicate? Retail investors are panic selling, but the project party is quietly laying out plans! ADA itself is a leader in the third-generation blockchain, with solid technology and strong security; it is definitely not a garbage coin!
Technical analysis:
On the 4-hour chart, ADA is repeatedly fluctuating between 0.346 and 0.37, with the commission ratio nearing equilibrium, indicating that the bulls and bears are battling it out here! Hongcai has found that there have been multiple dips near 0.346 but did not break below it, which is the key support level! If this position can be held tonight, there is a high possibility of a rebound!
Hongcai's personal view:
ADA has dropped to a zone where it is unlikely to drop further, and the main force is likely accumulating chips here. If it can hold above 0.37 tonight, it may rebound to 0.40 in the short term; but if it breaks below 0.346 with increased volume, then caution is warranted for further declines.
What should players do?
If you haven't jumped in yet: Don't rush to ALL IN, you can try a light position around 0.35, adding a little bit with each 5% drop.
If you are already stuck: Don't cut your losses at this position, patiently wait for a rebound, with 0.40 being the first point to reduce your position.
If you also want to know how I will operate next, when to add positions, and prepare to eat this wave of rebound with the main force! Follow Hongcai, and I will provide clear signals before the market starts!
In the market, the most important thing is not to predict every wave, but to ensure that you are always on the boat. The tide of liquidity will eventually lift all real value boats. Follow Hongcai and participate in every attack of Hongcai! Hongcai will announce the specific entry time and real-time news every day at the God of Wealth's house! #加密市场观察
