based on materials from the site - By CoinoMedia
Cardano (ADA) is demonstrating increasing strength with an expanding wedge forming on the 3-day chart. This marks the third consecutive bullish setup for the asset, reflecting a surge in technical momentum. Such patterns often indicate heightened volatility and potential continuation of the trend, especially when confirmed by volume and RSI movement.
Currently, ADA is testing its 50-day moving average (MA50), a critical resistance level that coincides with the upper trendline of the wedge. If the price successfully breaks through this level, it will confirm the bullish setup and likely trigger a new upward movement.
Breakout targets: $0.80 → $1.30
If Cardano breaks through the MA50 and maintains momentum, the next targets are projected at $0.80, followed by psychological and technical resistances at $1.00 and $1.30. These targets are based on historical resistance levels and the height of the wedge formation.
Technical indicators, such as RSI, are turning upwards, and trading volumes are increasing, both confirming the potential for a strong breakout. The pattern resembles previous bullish reversals that led to double-digit gains.
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