Cardano

bullish

Time

<ul class="wp-block-list">
 <li>ADA approaches key breakout point amid symmetrical triangle pattern formation.</li>
 <li>Market indecision reflected by technical indicators and mixed on-chain data.</li>
</ul>
Cardano (ADA) has been experiencing market turbulence, with traders showing caution despite recent bullish attempts. After hitting a two-week high of $0.3711, ADA faced renewed selling pressure, dropping 4.24% in the past 24 hours to $0.3443. Trading volume has also decreased by 39%, further reflecting market hesitation.
A key technical formation in play is the symmetrical triangle pattern on ADA’s 1-day chart. This pattern signals that a major price movement is imminent. Currently trading around $0.3585, down 0.80% at the time of writing, ADA is approaching a critical juncture. A <a href="https://thenewscrypto.com/can-ethereum-eth-rebound-as-uptober-momentum-builds/" rel="noopener noreferrer nofollow">breakout</a> above the upper trendline of the triangle could spark a rally, but strong buying momentum and increased volume are required to confirm this move.
Meanwhile, several technical indicators reflect the market’s indecision. The Relative Strength Index (<a href="https://in.tradingview.com/symbols/ADAUSDT/" rel="noopener noreferrer nofollow">RSI</a>) sits at 46.96, placing ADA in neutral territory. Additionally, narrowing Bollinger Bands suggest decreasing volatility, with the upper band at $0.3969 acting as key resistance. For a bullish breakout to occur, ADA’s RSI must rise above 50, supported by growing buying momentum.
<h3 class="wp-block-heading" id="h-what-is-ada-next-bounce">What is ADA Next Bounce?</h3>
On-chain data presents a mixed outlook. Net network growth is marginally positive at 0.09%, but a 0.53% decrease in large holder concentration signals bearish sentiment. However, the In the Money metric shows 3.43% of ADA holders are profitable, adding a slightly bullish dimension. Whale activity, reflected by large transactions, remains neutral. Currently, the 9D <a href="https://coinmarketcap.com/currencies/cardano/" rel="noopener noreferrer nofollow">EMA</a> is at $0.3443, further confirming the bearish sentiment grooving around.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfnEuioeriV5F-FJjPJGspNt2afc3EfNmXlKUk5laVTYeQkjg0N-JmQ6c1P1pbc6bryeUszdfWuVXfxy1xvpoQ4wKnlORlQoDP4DOcR0qmq8pN3GTPakLIGEytR9JNumAp8MjFs4DzMj1eqOH0EsGsRJnT8?key=8UgCXHQ36jcTidc8lCqfIw" alt="">
</figure>
While ADA’s technical setup suggests an impending price shift, whether this move is to the upside depends on stronger market participation and sustained social momentum. A <a href="https://thenewscrypto.com/trumps-wlfi-token-secures-just-4-of-300-million-sale-goal/" rel="noopener noreferrer nofollow">rally</a> toward $0.40 could be within reach, but it must first overcome resistance levels and ignite broader investor interest.
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Cardano (ADA) Eyes Breakout Amid Mixed Market Sentiment

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