🚀 Cardano Ready to Explode? Will $ADA Break Out or Pull Back?
Cardano ($ADA ) is showing strength above $0.7250, but the bulls are facing a tough battle near $0.7600. Here's the latest breakdown:
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🔥 ADA Price Action Highlights:
ADA climbed past $0.7250 and $0.7320, showing bullish intent.
Currently trading above $0.740 and holding the 100-hour SMA — a bullish signal!
However, a bearish trendline is capping gains near $0.7580 on the hourly ADA/USD chart.
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📈 Bullish Scenario:
First major resistance: $0.7600 — aligned with the 76.4% Fib retracement of the $0.7762–$0.7110 range.
Breakout above $0.7600 could trigger a strong rally towards $0.7720, then $0.8000.
If momentum continues, next target is $0.8250+ — 🚀 potential!
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📉 Bearish Scenario:
Failure to break $0.7600 could push ADA down.
Immediate support: $0.7420, followed by $0.7260.
A deeper drop could revisit $0.7100, and if bears stay aggressive, $0.6800 support may come into play.
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🔧 Technical Indicators:
MACD: Bullish momentum building — 📊 green lights!
RSI: Holding above 50, signaling strength.
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⚠️ Key Levels to Watch:
Support: $0.7420, $0.7260
Resistance: $0.7600, $0.8000, $0.8250
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Conclusion:
Cardano is at a crucial decision point — break and fly high or reject and dip lower. Keep an eye on the $0.7600 level — a break above could light the rocket!
Will ADA blast off or take a breather? Stay sharp and ready!
Click on Trade Now!
