$ADA #ADABullish
1.2243
-0.02%
Let’s break this down further for a deeper analysis of the **ascending triangle** and how to optimize your trades.
1. Chart Pattern Analysis
The ascending triangle shown indicates a series of **higher lows** converging with a strong horizontal resistance around $1.22, a classic bullish structure. Here’s why this is significant
- Psychological Resistance: The horizontal line at $1.22 has acted as a ceiling, but repeated testing suggests buyer strength.
- Higher Lows: Buyers are stepping in at increasingly higher levels, showing accumulating demand.
- Breakout Signal: A confirmed breakout above $1.22, as shown in the chart, implies bullish continuation.
