Key Technical Points: ADA technical analysis shows slight bullish movement. ADA/USD is currently trading at $0.456. ADA/USD found resistance at $556. Past Performance of ADA ADA technical analysis shows slight bullish movement. Over the past few weeks, the digital asset has traded in a range-bound manner, with prices bouncing between $0.42 and $0.52. However, ADA recently found some buying interest around $0.45, pushing prices towards $0.50. ADA has had a strong uptrend since March 2020 lows, and the digital asset is currently trading around $0.456. On the 4-hour chart, ADA/USD has formed a descending triangle pattern, a bearish reversal pattern. The bias remains bearish if prices are trading below the descending triangle resistance at $0.52. A break above $0.52 could see ADA prices move towards $0.60 in the short term. On the downside, support is seen at $0.45, and a break below this level could see ADA prices move towards $0.42 in the short term. ADA technical analysis shows that the digital asset is trading in a tightening range, suggesting a breakout is imminent. ADA/USD technical analysis shows that the digital asset has found some buying interest around $0.45, and a break above $0.52 could see prices move towards $0.60 in the short term. Source-Tradingview ADA Technical Analysis The formation of the bullish lagging span confirms that a bottom has been reached, and prices are likely to move higher in the short term. The digital asset is currently trading around $0.456, and a break above $0.52 could see prices move towards $0.60 in the short term. Upcoming Trend If ADA prices break out of the descending triangle pattern, we could see a move towards $0.60 in the short term. However, if prices fail to break out and remain below the descending triangle resistance, we could see a move towards $0.42 in the short term.
The post ADA Technical Analysis: ADA/USD Set to Break Above $0.60 appeared first on Cryptoknowmics-Crypto News and Media Platform.
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