#Cardano is approaching key support again, can it rebound again?

Analyst Ali Martinez pointed out that #ADA! is testing the lower boundary of the parallel channel that has bounced back multiple times since November 2024, with the current price around $0.52💎

In simple terms, a parallel channel is when the price consolidates between two parallel lines. The upper boundary of the channel is usually resistance, while the lower boundary is support. $ADA has bounced off the lower boundary multiple times in the past year, and if the historical pattern continues, this level might attract buyers again 📈

However, don't forget that the channel is not set in stone—breaking above the upper boundary is a bullish signal, while breaking below the lower boundary is a bearish signal ⚠️

By the way, #ETH is also oscillating within a similar parallel channel, but its long-term pattern is more complex. If key support is lost, it may face a larger correction.

Conclusion: $ADA is at a critical position right now. Is it a short-term buying opportunity or a breakout risk? Just pay attention to the performance at the lower boundary 👀