$ADA (4H) – Cup and Handle Continuation Pattern
$ADA is forming a classic Cup and Handle pattern, a bullish continuation formation. The pattern suggests that after the breakout, the price could potentially rise toward new highs.
📊 Technical Outlook:
Support Zone: Price has recently touched the last support area near $0.73.
Resistance Zone: The breakout above the cup's resistance zone, around $0.89, is key.
🟢 Bullish Scenario: A confirmed breakout above $0.89 could trigger a move towards the pattern’s target, with $1.00 as the next key resistance.
🔻 Bearish Scenario: Failure to break above $0.89 may lead to a retest of the support zone near $0.73.
⚠ Key Watch: A breakout above $0.89 is the key trigger for the next upward leg. Keep an eye on volume during the breakout.