Cardano (ADA) has broken out of a long-standing descending channel and successfully retested the breakout level, showing signs of strong continuation.
Key Observations:
Price broke above the upper trendline of the multi-month falling channel
Retest of breakout zone around 0.74 held firmly
Momentum building after reclaiming key resistance at 0.8158
Entry: Current zone around 0.74–0.75 (post-retest)
Targets:
0.8158
1.0876
1.3159
1.8958
Final target: 2.7652
Stop Loss: Below 0.70 (based on retest invalidation)
This setup has a macro upside potential of over 285% based on the channel breakout projection.
As long as ADA holds above the breakout zone, this structure remains valid and could lead to a sustained rally.
DYOR | Not Financial Advice
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