Hello everyone, I’m Cryptorphic. For the past seven years, I’ve been sharing insightful charts and analysis.
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Now, let’s dive into this chart analysis:
ADA is currently holding a historical supporting trendline that hasn't been broken since March 2020. A rebound can be expected, potentially allowing the price to test the resistance trendline at $0.58.
The 35EMA can be considered a primary resistance level. A rejection or breakdown below the support line will likely drop the price by 34%, or in the worst case, 60%.
On the higher side, a breakout above the 35EMA and the resistance trendline could trigger bullish sentiment and a rally toward the all-time high.
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