🧠Some technical analysis on $ADA for your reference.
📈 Details on the current ADA price trend.
1. Short-term trading range.
•ADA is within the range of $0.62–$0.64, testing support near $0.62 and resistance around $0.64–$0.65.
•As analyzed two days ago on Binance and CoinEdition, the ADA price has tested the $0.62 area and made a slight recovery.
2. Notable technical factors.
•Strong support: ~$0.62–$0.63, if this level is lost, it could drop further to $0.61–$0.60.
•Resistance: the range of $0.64–$0.65, breaking above this area could help ADA test $0.70 again.
•Some analysis warns of a "head & shoulders" pattern and a narrow range trend, with the next support around $0.52–$0.57 if a breakdown occurs.
3. News & market momentum.
•Recently, there has been internal debate about the proposal to allocate $100–140 million ADA from the fund to support stablecoin/liquidity, creating significant pressure; whales have sold around 270 million ADA (~$170M).
•Positive news: Cardano Foundation introduces the Originate project for businesses and the potential integration of DeFi with Bitcoin – opening up long-term growth opportunities.