Cardano (ADA) Market Update: Triangle Consolidation Continues
š¹ ADA remains in a consolidation phase, forming a potential triangle pattern with key resistance and support levels. This sideways movement suggests indecision in the market, making breakout levels critical.
Key Levels to Watch
š Support: $0.509 ā Holding this level keeps the triangle structure valid. A break below could trigger a drop to August-October lows.
š Resistance: $0.68 ā $0.74 (First major test). A break above $0.74 could indicate a shift towards an uptrend.
š Breakout Zone: $0.866 ā $1.05 (Long-term bullish target if momentum builds).
Potential Scenarios
šø Bullish Case: If ADA breaks $0.74, the D-wave up in the triangle could be in play, potentially leading to a larger uptrend breakout.
šø Bearish Case: Failure to break resistance and a move below $0.509 could invalidate the triangle, triggering further downside.
šØ Market remains in a corrective structure, making capital preservation key until a clear breakout occurs.
š Stay tuned for further updates!
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