NewsBTC
Apr 3, 2025
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Cardano Price Breaks Out of Bearish Trend, Targets $0.72 Resistance

Cardano (ADA) has broken out of a bearish trend, according to analysis by trader TehThomas on TradingView. This breakout on the 4-hour chart may indicate a potential trend reversal.

Key Developments

  • Cardano faced significant bearish pressure throughout March, falling from over $1 to near $0.65.
  • During this period, ADA's price action formed a descending channel, which was breached in early April.
  • The breakout may lead to increased price momentum towards higher resistance levels above $0.7.

Resistance Levels to Monitor

  • A critical zone combining the golden pocket and Fair Value Gap (FVG) is around $0.72.
  • This area is expected to present strong resistance due to its technical significance.
  • If ADA breaks through this zone, it may pave the way for further gains; otherwise, a pullback to $0.65 could occur.

Cardano Chart