### ๐ Why ADA MUST Smash the $0.46 Resistance โผ๏ธ
Cardano (ADA) is gearing up just below the crucial $0.46 resistance level. For the bulls to go full steam, breaking through this level is a must. Otherwise, we risk seeing a dip towards the "below $0.40" zone.
#### 1๏ธโฃ Chart Analysis
- **Historical Significance**: $0.46 has been a major pivot point in ADA's history.
- **Recent Attempts**: After dipping below in April 2023, ADA has made multiple failed attempts to reclaim this level.
- **Current Status**: ADA is now consolidating below $0.46 after bouncing from $0.35.
- **Potential Breakout**: Breaking $0.46 could clear the path to $0.59-$0.60.
#### 2๏ธโฃ Technical Indicators
- **Overbought Signals**: Daily chart shows overbought momentum indicators due to recent price surges. Consolidation may help reset these indicators before a breakout.
#### 3๏ธโฃ Trade Signals
- **Indecisive Signals**:
- **Bearish EMA Crossover**: Weekly chart signaled a bearish EMA crossover weeks ago, leading to a 20% dip.
- **Daily Chart Signal**: A similar signal on the daily chart suggests a potential bullish breakout.
### โก๏ธ What's Next?
Expect a short consolidation period. Based on bullish momentum, ADA is set to tackle and break the $0.46 resistance soon.
Stay tuned for updates! ๐
#ADA #Cardano #cryptoanalysis #TradingSignals #BullishBreakout #Binancefeed #Write2Earn!
---
*This is not financial advice. Always do your own research.*