Cardano

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/ada-price-analysis-will-ada-exit-this-triangle-to-cross-0-30/">ADA Price Analysis:&nbsp;Will ADA Exit This Triangle To Cross $0.30?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a>
Taking a reversal from the 2023 peak of $0.462 in April, the ADA price faces extreme bearish pressure, leading to a sharp fall. Moreover, the buyers are struggling to avoid a negative YTD growth rate and remain persistent in keeping the price above $0.20.
However, with the overall market teasing a strong comeback for bulls, the chances of the ADA token reaching $1, as per the <a href="https://coinpedia.org/price-prediction/cardano-price-prediction/" rel="noopener noreferrer nofollow">Cardano price prediction</a>, seem probable.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="478" src="https://image.coinpedia.org/wp-content/uploads/2023/10/18124427/ADAUSD_2023-10-18_11-41-26-1024x478.png" alt="" class="wp-image-237741" srcset="https://image.coinpedia.org/wp-content/uploads/2023/10/18124427/ADAUSD_2023-10-18_11-41-26-1024x478.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/10/18124427/ADAUSD_2023-10-18_11-41-26-300x140.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/10/18124427/ADAUSD_2023-10-18_11-41-26-768x359.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/10/18124427/ADAUSD_2023-10-18_11-41-26-1536x718.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/10/18124427/ADAUSD_2023-10-18_11-41-26-150x70.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/10/18124427/ADAUSD_2023-10-18_11-41-26.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
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With the overall downtrend motion, the resistance trendline remains prominent in the ADA price chart. However, the buyers maintain a barricade to avoid further correction and hold the price above $0.24.
Taking the long tails into consideration, a support trendline arises to complete a symmetrical triangle pattern. With the recent higher price rejection, the ADA trend struggles to regain momentum and challenge the overhead trendline.&nbsp;
Moreover, the recent long wick rejection from the overhead trendline displays strong supply pressure, keeping the bullish spurt in check. Currently, the ADA price trades at $0.26 as the demand near the support trendline attempts to absorb the selling pressure and revert the trend.&nbsp;
Technical indicators:
MACD indicator: As the overall trend remains indecisive within the triangle, the MACD and signal lines continue to move sideways. However, the declining bearish histograms tease a potential comeback for bulls with a positive crossover.&nbsp;
EMA: With the 50-day EMA providing dynamic resistance, its breakout will signify a trend reversal.&nbsp;
<h2 class="wp-block-heading" id="h-will-ada-price-bounce-above-50-day-ema">Will ADA Price Bounce Above 50-Day EMA?</h2>
The triangle breakout seems imminent, with the ADA prices ready to reclaim the bullish momentum. Moreover, with a market-wide recovery visible on the horizon, Cardano’s price may soon bounce back.&nbsp;
If the ADA price rises above the trendline, the breakout rally can touch $0.30 before rising higher to $0.356. On the flip side, a fall below the $0.25 zone will test the $0.24 base level.&nbsp;

ADA Price Analysis: Will ADA Exit This Triangle To Cross $0.30?

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