ADA Technical Analysis: 2 MAY 2025
ADA is in a potential falling wedge pattern. Source: TradingView
General View
ADA, after its initial rally, has entered a consolidation phase as a bull flag emerges. Meanwhile, in the short term, a falling wedge is being constructed. Bulls recently attempted a breakout, however, they failed to achieve any continuation, which is now creating a short-term pressure situation. As long as the price remains inside the wedge, it’s likely to remain trapped.
On The Upside
The $0.715 to $0.720 zone continues to remains as a key struggling zone for ADA. Convincingly, breaking past this barrier would trigger a fresh wave of buying pressure with Cardano, then aiming towards the $0.7350 level, followed by $0.7525.
On The Downside
Cardano is currently struggling with its strength as it tests the $0.70 psychological level. As for the session, the intra-day support is positioned at the $0.6850 level, followed by the $0.670 to $0.650 range. On lower time frames, this is an important support level.
Bull flag appearing on a higher time-frame for ADA. Source: TradingView
