ADA is currently trading within a symmetrical triangle, a pattern that typically signals market indecision. The price is tightening as it moves between an upward-sloping support line and a downward-sloping resistance line. Currently the price is testing a descending resistance line.
After making its new all-time high at $1.3264 the price is also trading within a range support zone Green at $0.8140 - $0.8416 and the resistance zone Blue at $1.1074 - $1.1567. A breakout above the resistance zone Blue and the symmetrical triangle with volume and daily candle close above could move the price towards the new all-time high, if the momentum continues Cardano (ADA) would make new highs.
After making its new all-time high at $1.3264 the price is also trading within a range support zone Green at $0.8140 - $0.8416 and the resistance zone Blue at $1.1074 - $1.1567. A breakout above the resistance zone Blue and the symmetrical triangle with volume and daily candle close above could move the price towards the new all-time high, if the momentum continues Cardano (ADA) would make new highs.
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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.