Cardano 
ADAUSDT is currently trading within a well-defined ascending channel after breaking out from a prolonged downtrend marked by a falling wedge pattern The price action has established a series of higher lows and higher highs, suggesting bullish momentum is building
Key Levels
Support Zone 0.660 – 0.700
Immediate Resistance 0.720 – 0.730
Psychological Target 0.800
Analysis
ADA broke out of a descending wedge pattern in early April and has been maintaining its structure within the rising channel
The price is currently retesting the channel's midline support around 0.70 If this level holds a bounce could take ADA towards the 0.800 psychological target aligning with the channel's resistance
A short-term dip to retest the lower channel support is possible before a potential bullish continuation
Outlook
As long as ADA remains within this ascending channel the bias remains bullish A confirmed breakout above the 0.730 resistance level could trigger a strong move towards the 0.800 target Watch for volume confirmation and a clean support hold for further confidence
Always remember to use proper risk management This is not financial advice just a personal technical observation...
ADAUSDT is currently trading within a well-defined ascending channel after breaking out from a prolonged downtrend marked by a falling wedge pattern The price action has established a series of higher lows and higher highs, suggesting bullish momentum is buildingKey Levels
Support Zone 0.660 – 0.700
Immediate Resistance 0.720 – 0.730
Psychological Target 0.800
Analysis
ADA broke out of a descending wedge pattern in early April and has been maintaining its structure within the rising channel
The price is currently retesting the channel's midline support around 0.70 If this level holds a bounce could take ADA towards the 0.800 psychological target aligning with the channel's resistance
A short-term dip to retest the lower channel support is possible before a potential bullish continuation
Outlook
As long as ADA remains within this ascending channel the bias remains bullish A confirmed breakout above the 0.730 resistance level could trigger a strong move towards the 0.800 target Watch for volume confirmation and a clean support hold for further confidence
Always remember to use proper risk management This is not financial advice just a personal technical observation...
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.