Cardano (ADA) has broken out of a long-standing descending channel and successfully retested the breakout level, showing signs of strong continuation.
Key Observations:
Price broke above the upper trendline of the multi-month falling channel
Retest of breakout zone around 0.74 held firmly
Momentum building after reclaiming key resistance at 0.8158
Entry: Current zone around 0.74–0.75 (post-retest)
Targets:
0.8158
1.0876
1.3159
1.8958
Final target: 2.7652
Stop Loss: Below 0.70 (based on retest invalidation)
This setup has a macro upside potential of over 285% based on the channel breakout projection.
As long as ADA holds above the breakout zone, this structure remains valid and could lead to a sustained rally.
DYOR | Not Financial Advice
Key Observations:
Price broke above the upper trendline of the multi-month falling channel
Retest of breakout zone around 0.74 held firmly
Momentum building after reclaiming key resistance at 0.8158
Entry: Current zone around 0.74–0.75 (post-retest)
Targets:
0.8158
1.0876
1.3159
1.8958
Final target: 2.7652
Stop Loss: Below 0.70 (based on retest invalidation)
This setup has a macro upside potential of over 285% based on the channel breakout projection.
As long as ADA holds above the breakout zone, this structure remains valid and could lead to a sustained rally.
DYOR | Not Financial Advice
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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.
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.