ADA/USDT –Eyeing the 0.800 Breakout Bullish Continuation in Play

3 May

Cardano ADAUSDT is currently trading within a well-defined ascending channel after breaking out from a prolonged downtrend marked by a falling wedge pattern The price action has established a series of higher lows and higher highs, suggesting bullish momentum is building

Key Levels
Support Zone 0.660 – 0.700
Immediate Resistance 0.720 – 0.730
Psychological Target 0.800

Analysis
ADA broke out of a descending wedge pattern in early April and has been maintaining its structure within the rising channel
The price is currently retesting the channel's midline support around 0.70 If this level holds a bounce could take ADA towards the 0.800 psychological target aligning with the channel's resistance
A short-term dip to retest the lower channel support is possible before a potential bullish continuation

Outlook
As long as ADA remains within this ascending channel the bias remains bullish A confirmed breakout above the 0.730 resistance level could trigger a strong move towards the 0.800 target Watch for volume confirmation and a clean support hold for further confidence
Always remember to use proper risk management This is not financial advice just a personal technical observation...

4 May

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9 May

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