Talk about ADA (Cardano), this currency. After ADA was pushed to a high point of 3.10 in the bull market of 2021, the cycle rotated, and the bull-bear conversion occurred. The current price has fallen to the 0.248 range and is now in the bull market price launch zone. On the weekly K-line price chart, it rebounded from the oversold high point of 0.461 on July 24, and the weekly K-line formed a dragonfly doji (a reversal pattern), followed by seven weeks of continuous decline. The current price has fallen to the previous bottom support of 0.24, stopping the decline, and is expected to start an upward cycle this month, forming a large double bottom pattern. The profit space above is at the 0.45 level, nearly double the profit space. As for the risk, the current price is at 0.248, with 0.24 as the defensive line for operation, and the profit retracement will not be too large.

On the daily K-line, the price fell below the 0.243 level, with short-term pressure at the 0.25 level. The red MACD momentum is gradually increasing, and the fast and slow lines are forming a golden cross below the zero axis, with the current fast line turning upward. It is expected to break through the short-term pressure of 0.25 within the day or in the early morning. Therefore, in our operation, we can go long at the current price and aim to break through the middle target of 0.45.

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