Cardano is showing a major breakout from a long-standing descending channel on the daily timeframe.
Structure:
Downtrend channel respected for ~7 months
Breakout confirmed with a strong bullish daily candle
Price hovering around $0.7192, above previous resistance
Support Levels:
$0.60
$0.5299
Resistance / Long-Term Targets:
$0.8158
$1.0876
$1.3159
$1.8958
Ultimate target (Fib extension): $2.76+
Outlook:
The 285% potential move mirrors ADA’s past rally from similar conditions. If market sentiment continues improving and BTC holds above key levels, ADA might repeat history.
A pullback to $0.60–$0.66 could offer re-entry opportunities.
Bias: Bullish (long-term)
Caution: Not a trade setup—strictly an outlook. Watch BTC/ETH correlation.
DYOR | Not financial advice
Structure:
Downtrend channel respected for ~7 months
Breakout confirmed with a strong bullish daily candle
Price hovering around $0.7192, above previous resistance
Support Levels:
$0.60
$0.5299
Resistance / Long-Term Targets:
$0.8158
$1.0876
$1.3159
$1.8958
Ultimate target (Fib extension): $2.76+
Outlook:
The 285% potential move mirrors ADA’s past rally from similar conditions. If market sentiment continues improving and BTC holds above key levels, ADA might repeat history.
A pullback to $0.60–$0.66 could offer re-entry opportunities.
Bias: Bullish (long-term)
Caution: Not a trade setup—strictly an outlook. Watch BTC/ETH correlation.
DYOR | Not financial advice
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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.
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.