ADA/USDT: Pattern Convergence Sparks Bearish Warning!

BINANCE:ADAUSDT   Cardano / TetherUS
πŸ’Ž Hey ParadiseSquad, let's zoom into ADA/USDT on the weekly chart. We're seeing a unique blend of an inverse cup and handle pattern coupled with an M pattern. This combination is hinting at a bearish outlook.

πŸ’Ž For this bearish scenario to unfold, we need a confirmed breakdown below the critical demand level of 0.2337. If that happens, we could aim for the next demand zones at 0.1783, 0.1451, and 0.1115. Remember, we're looking for a solid close and retest of this level before considering any bearish moves.

πŸ’Ž On the flip side, if the price ascends past 0.3770, this pattern would be nullified, signaling a potential bullish reversal.

πŸ’Ž Keep your eyes peeled and trade smart, ParadiseSquad!

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