$0.48 Breakout Could Encourage ADA Buyers For 14% Jump
A bullish reversal from the bottom support of $0.425-$0.416 triggered a recovery opportunity for Cardano(ADA). Today, the altcoin is 5.44% up and attempts to break out from $0.48 resistance. Can buyers lead the price up above $0.55 resistance, or will the sellers pull the price lower?
Key points from ADA analysis:
- The $0.425 resistance breakout opens the door for a 14% bull run.
- The ADA buyers attempt to reclaim the 20 EMA of the daily time frame chart
- The intraday trading volume in the ADA coin is $762 Million, indicating a 46% gain.
Source- Tradingview
The recent widespread correction in the crypto market bolsters a usual bear cycle within the descending triangle pattern. The downfall discounted the prices by 28%, returning to the bottom support zone of $0.425-$0.416.
On August 29th, the ADA price rebounded from the accumulation zone and climbed 12.8% higher to hit the immediate resistance of $0.481. This bull run supported by rising volume activity accentuates the buyers’ confidence in a bullish breakout.
Also read: Cardano (ADA) Price Skyrockets, All Details On The Vasil Hard Fork Readiness
Thus, the $0.481 breakout would act as confirmation for a new bull cycle within the pattern. Moreover, the potential rally will trigger a 14% price jump to reach the shared resistance of the downsloping trendline and $0.55.
However, if prices sustain below the $0.48 level, the short-consolidation will extend for a few more sessions and plummet to $0.425 neckline support.
Anyhow, the true nature of this pattern is to continue the prevailing downtrend after the breakdown of neckline support. Thus, the ADA price is poised to break $0.425 support, indicating a potential fall to the $0.3 mark.
Technical Indicator
MACD indicator: A bullish crossover between the MACD and signal lines encourages a bullish breakout from $0.425 resistance. In addition, the histogram chart started to paint green bars, reflecting a switch in traders’ sentiment.
EMAs: the 20-day EMA has acted as a dynamic resistance or support throughout the formation of triangle patterns. Therefore, with a $0.425 breakout, the buyers will reclaim 20-day EMA support to bolster further growth.
- Resistance levels- $0.5, and $0.542
- Support levels- $0.45 and $0.4
- Fed’s Anna Paulson Backs Rate Cuts, Downplays Trump Tariff Impact
- Is Another BTC Price Crash Ahead As ‘Trump Insider Whale’ Increases Bitcoin Short to $340M
- Bitget Reveals Rising Crypto Adoption as Nigeria, China, and India Lead Growth
- Breaking: Michael Saylor’s Strategy Adds 220 Bitcoin Amid Crypto Market Dip
- Breaking: China Renaissance Bank Eyes $600M Raise for BNB-Focused Fund with YZI Labs
- Trader Sees a Dogecoin Price Surge as House of Doge Sets for a NASDAQ Listing
- Will Shiba Inu Price Recover After the Crypto Crash As Burn Rate Soars 8,194%?
- Bitcoin Price Mirrors March 2020 Crash as US–China Trade Easing Fuels Recovery
- PEPE Coin Price Reenters Historical Demand Zone as Whales Accumulate $5M— Can It Repeat Its 123% Rally?
- Bitcoin Price Prediction as Trump’s Tariff Shock Triggers $19B Liquidation
- Can $TAPZI Reach $1 In Q1 2026?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
