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In the middle of the market resumption, Cardano (ADA) experienced a daily overvoltage of 5% to retain the level of $ 0.66. Its recent price action has led cryptocurrency to get out of upward training, which could propel ADA into a key resistance area.
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Cardano Breakout Eyes 27% Move
Tuesday, Cardano followed the Bitcoin price jump and climbed to the resistance of $ 0.66, trying to break above the key level for the third time this month. The ADA has been in a downward trend since it reached its summit of $ 1.32 in 3 years in December 2024, traced more than 50% in the last four months.
In March, the cryptocurrency jumped 80% towards the $ 1.17 mark, driven by the initial announcement by US President Donald Trump from a “cryptographic strategic reserve” made up of ADA, XRP and Solana (soil).
However, after the White House crypto-tsar, David Sacks, explained that the cryptocurrencies listed were used as an example of head token, the price of Ada retracted Fork from $ 0.70 to $ 0.80.
In the midst of the late March retcesses, Cardano lost the bar of $ 0.70, falling in the area from 0.50 to 0 to $ 55 in early April. This month, the cryptocurrency retested the level of $ 0.66 but was rejected twice.
Today, he tried to break this level again but was rejected a third time. Nevertheless, analyst Ali Martinez stressed that ADA broke out a symmetrical triangle model in the middle of its current performance.
Cardano was consolidation In a symmetrical triangle formation throughout April, preparing the way for a price movement of 27%. After exceeding the bar of $ 0.63, Ada left the motif, looking at a wave to the resistance of $ 0.77.
Ada preparing for key reestes
Analyst Sebastian noted that the cryptocurrency “is preparing” because it moves in a four-month descending channel. ADA rebounded to the upper limit, which served as resistanceEach time, it has retested the lower trend line as a support.
After the recent drop to $ 0.50, Cardano could resume the upper limit soon, at around $ 0.80 in prices. In addition, the analyst noted That the token is currently coming out of an opposite head and shoulder motif in the descending channel, which could see the cryptocurrency thrust towards the level of key resistance.
Another market observer suggested that cryptocurrency could follow its 2020-2021 model. According to the graph, once ADA has broken out from its rally levels in the bear market, it has reached a new high cycle, followed by a retest of the bear market as a support.
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After having exploded from the downward trend, he joined his top of all time (ATH) of $ 3.09 in the coming months. “If Ada broke out this week and followed the same model as the last cycle, he would be on the right track to hit a new ATH in mid-August,” said the analyst.
Meanwhile, and photo assertive This greater Cardano resistance is at the $ 3, “where many people regret not having sold the last cycle.” The analyst has planned that once ADA reaches ATH levels, his pump “will probably stop in this general area with a lot of volatility, then continue at $ 5. It will be like a cryptographic bus stop. ”
Star image of Unsplash.com, tradingView.com graphic