Crypto Express

07/14 02:50

Will ADA bullish breakout hold?

ADA has made a significant bullish recovery in the last 24 hours, breaching the upper boundary of a Descending Channel pattern.

This pattern, defined by downward-sloping resistance and support lines, saw ADA’s price trend lower for months, dropping from a high of $1.32 to $0.74.

Historically, a breakout above this structure signals the start of a potential rally. In this case, analysis suggested ADA may reclaim the $1 region and possibly move higher.

Still, there’s a hurdle. To sustain this breakout, ADA must overcome resistance at $0.7468, which may attract selling pressure strong enough to drag the price back down.

In fact, failure to break this level could push the asset back into the descending structure.

However, if momentum holds, the asset could climb toward the $0.95–$1.12 range, with $1.22 as an extended target, per TradingView projections.

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