๐๐๐ฅ๐๐๐ก๐ข ๐ฃ๐ฅ๐๐ฃ๐๐ฅ๐๐ฆ ๐๐ข๐ฅ ๐๐๐ ๐ ๐ข๐ฉ๐ ๐ง๐๐๐ฅ๐ ๐๐จ๐๐๐๐ฆ๐ ๐ฃ๐๐ง๐ง๐๐ฅ๐ก ๐๐ข๐ฅ๐ ๐๐ก๐
Cardano (ADA) is flashing another major bullish signal โ its third in recent weeks โ as a broadening wedge pattern forms on the 3-day chart. This setup often precedes large breakouts, especially when paired with increasing trading volume and momentum indicators.
ADA is now testing the 50-day moving average (MA50), which also aligns with the wedgeโs upper boundary. If ADA breaks above this, it could confirm a powerful bullish breakout.
โ Whatโs Happening on the Chart?
๐ Broadening Wedge Detected: Signals increasing volatility โ and usually precedes a breakout.
๐ง 3rd Bullish Pattern in a Row: This shows a trend of building strength across timeframes.
๐ Testing Key Resistance (MA50): Around $0.69. A clean move above this would unlock upside targets.
๐ฏ Bullish Price Targets (If Breakout Confirmed)
$0.80 โ Previous local high.
$1.00 โ Psychological round number + historical resistance.
$1.30 โ Technical wedge projection.
๐ก๏ธ Key Support Levels to Watch
$0.55โ$0.56 โ This is a major support base. Holding above this zone is critical to keeping bullish structure intact.
Break below $0.55? It could weaken the bullish case and delay upside.
๐ Indicators You Should Know
๐ RSI Rising: Momentum is shifting toward the bulls.
๐ Volume Increasing: Breakouts supported by volume are more trustworthy.
โ ๏ธ Still Not Confirmed: The breakout must close and hold above the MA50 โ without that, itโs just potential.
๐งญ What Should Traders Do?
Watch for Break Above $0.69 (MA50)
โ That would be a strong entry signal.
Set Alerts Around $0.55
โ A breakdown here could invalidate the pattern.
If Breakout Holds, Watch for $0.80 โ $1.30
๐ These are likely take-profit zones based on past price reactions.