- Major Resistance: $3.16 (Previous High Level)
- Key Fibonacci Levels to Watch:
- Short-term: $2.54 (0.786 Fib), $2.04 (0.618 Fib)
- Mid-term: $4.99 (1.618 Fib), $7.98 (2.618 Fib)
- Long-term Targets: $10.89, $12.71, $13.84
Bullish Case for ADA/USD
1. Breakout from Accumulation Zone
Cardano has been in a long accumulation phase since its bear market bottom.
2. Fibonacci Extension Targets Align with Previous ATH
$3.16-$3.17 level is a key breakout zone—a strong close above this could trigger a rally toward $4.99 (1.618 Fib).
Higher extensions targeting $7.98, $10.89, and $12.71 in a full bull run.
3. Higher Timeframe Bullish Structure
The monthly chart shows a strong reversal pattern, breaking above key resistance levels.
If ADA can flip $3.16 into support, the next leg could be explosive.
Bullish Targets (Mid to Long Term)
Short-term breakout: $3.50 - $4.00
Mid-term target: $4.99 - $7.98
Full Bull Cycle: $10.89 - $13.84
A strong close above $3.16 could confirm the next leg toward $5-$8 soon!
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.
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.