ADA Technical Analysis
With the upward breakout of the falling wedge on the ADA chart, the market structure continues positively. We see that it retraces after the breakout and then moves to the $1 region. We can say that the trend is positive after this point. This structure will be maintained as long as it remains above $0.68.
In the short term, the levels to watch out for in case of pullbacks are as follows:
- $0.87 appears to be the first area where we believe the price could hold on to a pullback.
- $0.79 is a more suitable and clearer area for a reversal. Any pullbacks up to this level will not disrupt the positive structure.
In the continuation of the upward movement, $1.10 and $1.35 will be targets. In particular, breaking the $1 psychological resistance could accelerate the rise.
These analyses do not constitute investment advice and focus on support and resistance levels that may present potential trading opportunities in the short and medium term, depending on market conditions. However, the responsibility for executing trades and managing risk lies entirely with the user. It is also strongly recommended to use stop-loss orders for any trades mentioned.
