🔵 $ADA (Cardano) Technical Update – August 5, 2025
ADA is currently dipping into a key support zone, showing early signs of a potential reversal — but the structure remains fragile. Let’s break down the price action 👇
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🟨 Current Market Structure:
ADA has printed a higher low, but no higher high yet – still in a downtrend until confirmation.
The move from Saturday’s low is corrective, suggesting a possible Wave 2 pullback.
The previous swing high sits at $0.761. A break above it could confirm early bullish momentum.
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📘 Elliott Wave Scenario:
The correction from July 21–22 may have ended Saturday, hitting the 50% Fibonacci retracement.
If true, this is a Wave 2 retracement, and we're now watching for Wave 3 upside potential.
The support zone to hold is between $0.698–$0.708 (78.6% retracement level).
A break below $0.698 would invalidate this bullish count and shift focus to the next support near $0.64.
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📊 Bullish Confirmation Levels:
Event Level to Watch
Break above swing high $0.758–$0.761
Next target if bullish ~$0.79
Full reversal confirmed After 5-wave up
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⚠️ Final Thoughts:
The structure is still too fragile for full confirmation, but higher lows and respected retracements could be early signs of a bullish shift. Watch for a clean breakout above $0.761 to gain confidence.
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🧠 Always let the market confirm before jumping in. ADA is holding support, but the bulls must defend it now.
📍Drop your ADA targets below & follow for daily technical updates!
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