$ADA CardanoDebate ADA eyes $0.60 support after seeing a rejection at descending channel upper boundary

ADA is down 4% following rising war tensions in the Middle East between Israel and Iran. The altcoin saw a rejection near the upper boundary of a key descending channel — strengthened by the confluence of the 100-day and 50-day Simple Moving Average (SMA).

ADA/USDT daily chart

On the downside, ADA could find support at $0.60. A further downward pressure could see it bounce off the channel's lower boundary if the $0.60 support fails. On the upside, it has to overcome the channel's upper boundary to stage a rally toward $0.84.