ADA

ADA has formed a head-and-shoulders bottom pattern, recently breaking below the neckline and rebounding at $0.6838, with an overall downward trend. The short-term rebound presents a good entry opportunity for a short position. At the time of writing, ADA is trading around $0.737. Investors can enter a short position at the current market price or wait for a pullback to around $0.75 to observe price action, as this level aligns with the Fibonacci 0.382 and the previous triangle endpoint.

Take-profit targets can be set above the Fibonacci 1.272 level, around $0.66. After reaching this target, consider closing half the position to lock in profits and holding the remaining position for $0.63 or $0.62. Set the stop-loss above the previous high at $0.79.

Reference Levels: 

Direction: Short 

Entry: $0.737 (market price) / $0.748 

Take-Profit: $0.66 / $0.63 / $0.62 

Stop-Loss: $0.792

SOL

SOL recently formed a descending triangle and broke below the support zone, rebounding around $155.8. Notably, the third upward move during the pattern formation showed weak momentum, indicating fading bullish strength.

At the time of writing, SOL is trading around $162.9. Investors are advised to enter short positions at the resistance levels of $168 and $175. Take-profit targets can be set in stages at $155.8, $148.5, and $145. Set the stop-loss above the high-density trading zone at $178.

Reference Levels:

Direction: Short 

Entry: $168 / $175 

Take-Profit: $155.8 / $148.5 / $145 

Stop-Loss: $178.5

XRP

XRP recently broke below a descending channel but pulled back with an uptick at $2.72. This breakout appears to be a false one, as trading volume did not increase with the price rise. At the time of writing, XRP is trading around $3, which is a key level at the upper edge of the channel.

Investors comfortable with left-side trading can enter a short position at the current market price, with take-profit targets at the previous support levels of $2.67 and $2.6. Set the stop-loss above the previous high at $3.05.

Reference Levels: 

Direction: Short

Entry: $3 (market price)

Take-Profit: $2.67 / $2.6

Stop-Loss: $3.06

Disclaimer: None of the information contained here constitutes an offer (or solicitation of an offer) to buy or sell any currency, product or financial instrument, to make any investment, or to participate in any particular trading strategy.