ADA TECHNICAL ANALYSIS SEPTEMBER 28
Cardano (ADA) broke above the $0.40 overhead resistance on September 27. If the price closes above $0.40, it will complete a double bottom pattern.
The reversal pattern target is $0.49, but bulls are likely to face strong resistance at $0.45. If the price declines from $0.45 but recovers from $0.40, it will signal a change in sentiment from sell on the rise to buy on the fall. That would improve the upside outlook to $0.49.
Alternatively, if the price fails to sustain above $0.40, it will indicate that the market has rejected the breakout. A break below the 20-day EMA ($0.36) would indicate that the ADA/USDT pair could range between $0.31 and $0.40 for some time.
