The ADAUSDT chart shows the formation of a "double bottom pattern," a classic technical figure that often indicates a possible trend change from bearish to bullish. The key aspects are highlighted below:
1. Double Bottom Structure:
- The first bottom was formed around $0.6127 (24h low), followed by a moderate recovery.
- After a slight correction, the price tested that level (or close to it) again, confirming the second bottom before bouncing back once more.
2. Pattern Confirmation:
- To validate the double bottom, it is essential for the price to exceed the midpoint between the two bottoms (resistance close to $0.6386, 24h high). This would act as a breakout signal.