ADA/USDT Weekly Chart Update.

Hello everyone, I’m Cryptorphic.
For the past seven years, I’ve been sharing insightful charts and analysis.

Follow me for:
~ Unbiased analyses on trending altcoins.
~ Identifying altcoins with 10x-50x potential.
~ Futures trade setups.
~ Daily updates on Bitcoin and Ethereum.
~ High time frame (HTF) market bottom and top calls.
~ Short-term market movements.
~ Charts supported by critical fundamentals.

Now, let’s dive into this chart analysis:

ADA is currently holding a historical supporting trendline that hasn't been broken since March 2020. A rebound can be expected, potentially allowing the price to test the resistance trendline at $0.58.

The 35EMA can be considered a primary resistance level. A rejection or breakdown below the support line will likely drop the price by 34%, or in the worst case, 60%.

On the higher side, a breakout above the 35EMA and the resistance trendline could trigger bullish sentiment and a rally toward the all-time high.

Key Observations:

~ Primary Support/Entry: $0.3732.
~ Support 1/DCA: $0.2431.
~ Support 2/DCA: $0.1486.
~ Resistance 1: 35EMA ($0.48).
~ Resistance 2: $0.58.

DYOR. NFA.

Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see!

Thank you!

#PEACE