ADAUSDT continues to trade inside a textbook ascending triangle on the daily chart, with resistance holding firm at $0.91. A clean breakout above this level could open up targets at $1.01 and $1.10, based on Fibonacci extension levels (0.5 and 0.618). But bulls aren’t out of danger just yet.A worrying drop in exchange outflows—from $40.07M to just $3.56M in under a week—signals fading spot demand. Less ADA is leaving exchanges, hinting at weakening buyer conviction.
Leverage is also stacked dangerously. Over $174M in longs on Bitget sit around the $0.83–$0.85 zone. If ADA slips into that range, a long squeeze could cascade, pushing price action violently downward.
Support at $0.83 remains critical. A breakdown here invalidates the bullish triangle and may tilt momentum sharply bearish.
For now,
ADAUSDT holds pattern structure—but the setup looks fragile. A breakout needs real demand behind it to avoid a failed pump and long liquidation spiral.Indicators to Watch:
Ascending triangle, Fibonacci 0.5/0.618, Long:Short Ratio, Exchange Netflow
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Truly Unbiased Cryptocurrency News beincrypto.com
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.