After weeks of volatility within a descending wedge, Cardano (ADA) has finally broken away from its negative technical structure, currently trading at $0.7526 with a daily increase exceeding 2.3%. This movement may be the start of a new upward wave, or just a trap for late buyers.
💎 Resistance broken... but will it last?
- The price closed above the descending resistance line, confirming a clear technical breakout
- The $0.7300 – $0.7450 area has now become initial support that must be maintained to ensure momentum continues
- Below this level, the demand zone between $0.6700 – $0.7100 remains critical and may determine the fate of the upcoming trend
📊 Potential Ascension Targets
- First target: $0.8600 – light resistance in the short term
- Second target: $0.9300 – $0.9500 – a strong resistance area where traders expect profit-taking or re-entry into short positions
🔍 Momentum indicators support the trend
- The Relative Strength Index (RSI) is recovering and approaching the overbought territory
- Buyer interest is renewing, reinforcing the hypothesis of continuing ascent
- The moving averages indicate the beginning of a healthy accumulation phase if the price maintains the breakout area
⚠️ Invalidating Level
A drop below $0.6600 will invalidate the current technical structure and tilt the bias back to the downside, necessitating strict risk management.
🎖 Trading Advice:
Strive for sustainability, not quick profits. Treat the market with a business mindset, not as a gambler
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