ADA Technical Analysis: 22 APR 2025
ADA inside a symmetrical triangle pattern. Source: TradingView
General View
Amid broader market swings, ADA has held its ground well, preserving its short-term bullish structure. Price is now inside a symmetrical triangle pattern with bulls and bears battling for dominance. Importantly, ADA continues to hold its key ascending support range, which is keeping bullish hopes alive. If the current momentum can be maintained, there is potential for a renewed attempt towards higher levels.
On The Upside
ADA has already broken out of a descending trendline resistance, however, it needs another breakout to confirm strength. Bulls need to break the resistance boundary at $0.645 to $0.650 levels to enter a more sustained bullish outlook targeting $0.70 next followed by $0.740.
On The Downside
The short-term symmetrical pattern has the tendency to break on either side. If bulls continue to face rejections at higher levels, it could slow down the trend and put ADA in a vulnerable state once again. In the short term, ADA needs to hold two important levels of $0.510 and $0.505. As breaking these could make the price retest lower levels before any bullish attempts.
ADA is starting to show some bullish signs. Source: TradingView
