$ADA
- Short-term trend: On the daily chart, ADA is consolidating within an ascending triangle, with the resistance level at the top of the triangle around $0.74 and a support trend line formed by higher lows around $0.63 to $0.67, indicating increased demand. The Relative Strength Index (RSI) hovers in the neutral zone between 55 and 60, leaving room for upward movement. The 50-day moving average (MA50) is on an upward trend and is about to form a golden cross with the 200-day moving average (MA200); if confirmed, this is a typical bullish signal.
- Medium-term trend: The weekly chart shows a descending wedge formation, which is typically associated with bullish reversals. Once the upper trend line of the wedge is broken, the first technical target may be around $1.32, indicating significant potential for upward movement.
- Key levels: Recent resistance is at $0.75, and support is at $0.58. If it breaks above $0.75, it may rise to $0.83; if it falls below $0.58, it may correct to $0.50.
