Cardano 2/17 (scalping + forecast)

🔥 Market Overview (ADA/USD - Cardano)
Trend: ADA is in a mild uptrend on the 2H timeframe but still below major resistance on the 1D and weekly charts.
Key Levels:
Resistance:
🩸 Major Resistance: $0.85 (if broken, expect momentum toward $0.90+).
🩸 Local Resistance: $0.82 (short-term selling pressure).
Support:
🩸 Major Support: $0.75 (if lost, expect a drop to $0.72).
🩸 Local Support: $0.79 (buyers stepping in).
Indicators:
MACD (2H, 1D): Bullish momentum starting to form, but weak confirmation.
RSI (2H, 1D): 54-55, slightly overbought but still room for upside.
EMA 200 (2H, 1D): Acting as dynamic support—ADA is holding above it but needs confirmation.
🔥 Scalping Strategy:
🩸 1. Range Scalping (Sideways Trading)

Buy: $0.79 – $0.80, targeting $0.82 – $0.83.
Sell: $0.82 – $0.85, targeting $0.80.
Stop-loss: Below $0.78 (for long), above $0.86 (for short).
🩸 2. Breakout Scalping (Momentum Play)

Long Entry: Above $0.85, targeting $0.90 – $0.95.
Short Entry: Below $0.79, targeting $0.75 – $0.72.
🩸 3. EMA Scalping

If ADA holds EMA 200 as support, long with a target at $0.85.
If ADA rejects EMA 200, short toward $0.78 – $0.75.
🔥 Mid-Term Trend Forecast (1-3 Weeks):
Bullish Scenario: ADA breaks and holds above $0.85, leading to a push toward $0.90+.
Bearish Scenario: ADA fails to hold $0.79, leading to a retest of $0.75 – $0.72.
🔥 News & Market Context:
Cardano DeFi Growth: Increased TVL (Total Value Locked) supports ADA’s fundamental case.
Institutional Flow: Moderate accumulation seen—watch for whale movements.
Crypto Market Sentiment: If Bitcoin pumps, ADA could follow toward $0.90.
🔥 Decision:
🩸 Short-term: Scalp the $0.79 – $0.85 range, waiting for confirmation.
🩸 Mid-term: Breakout play above $0.85 or short below $0.79.
🩸 Ideal Play: Monitoring RSI & MACD for breakout confirmation.

👑 Final Verdict:
ADA is holding support well, but needs a breakout above $0.85 for a sustained rally. Scalping within the range remains the best strategy.

🔥 FinCaesar's Quote:
"Precision in execution defines the victor. Trade with a plan, or be ruled by the market." 👑