$ADA

ADA Price Analysis

Bullish ADA just fought a brilliant counterattack! A strong rebound arrived on January 1st, followed by a breakout above the neckline of the head-and-shoulders pattern, which has put the bears in a bit of a panic.

Bear Covering Effect: The breakout above the neckline may force aggressive bears to close their positions, accelerating the upward trend, with a short-term target looking towards $1.20.

Key Resistance Area: The range between $1.19 and $1.30 may become a key defensive zone for sellers. If the bulls want to push further, they must break through this area.

Current moving averages show an upward trend, and bulls may find strong support during pullbacks. The 20-day moving average is crucial, and buyers will organize strong defense here.