Relatively small $ADA rally causes a breakout from the symmetrical triangles, and we might see a continuation of the rally
According to the chart, the breakout itself happened at the beginning of the new trading day, with ADA rallying to $1.2 in a matter of hours. The new milestone correlates with the resistance line that formed after three unsuccessful attempts to reach $1.25.After the breakout, the coin also failed to reach a higher price and immediately retraced from $1.23 to $1.21.
We could explain the lack of buying power on the first day of trading since the weekend session is traditionally less active compared to regularPreviously, U.Today covered seven new use cases that will be released on the Cardano network and are expected to bring millions of inflows to platforms powered by the blockchain—which is expected to positively affect the price of the asset itself as its usage will spike.
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