ADA Technical Analysis: 28 APR 2025
ADA is moving in an ascending channel formation. Source: TradingView
General View
Cardano has shown strong momentum recently after breaking out of the ascending triangle. Over the weekend, ADA completed a perfect bullish retest of the ascending triangle’s neckline. Now, all the bulls need is a continuation above the resistance line of the short-term ascending channel to get ADA trending once more.
On The Upside
ADA on the 12-hour time-frame is knocking at the EMA-200 at the $0.7250 level. This is going to be the session’s major resistance. A clean breakout above EMA-200 will open Cardano’s upside for the day initially towards the $0.7490 level, followed by the $0.7700 level. If bulls fail to break past EMA-200, the upside will remain capped.
On The Downside
Failure to break above the $0.7250 resistance could lead to a pullback toward the ascending support trendline. The ascending support is further strengthened by the horizontal support range. These supports are positioned at $0.6950 to $0.6800 levels. Additionally, as long as this zone holds, EMA-200 will remain under pressure of breaking.
ADA withheld the breakout retest levels. Source: TradingView
