ADA/USDT Weekly Chart Update.

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Hello everyone, I’m Cryptorphic.
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Now, let’s dive into this chart analysis:


ADA is currently holding a historical supporting trendline that hasn't been broken since March 2020. A rebound can be expected, potentially allowing the price to test the resistance trendline at $0.58.

The 35EMA can be considered a primary resistance level. A rejection or breakdown below the support line will likely drop the price by 34%, or in the worst case, 60%.

On the higher side, a breakout above the 35EMA and the resistance trendline could trigger bullish sentiment and a rally toward the all-time high.

Key Observations:

~ Primary Support/Entry: $0.3732.
~ Support 1/DCA: $0.2431.
~ Support 2/DCA: $0.1486.
~ Resistance 1: 35EMA ($0.48).
~ Resistance 2: $0.58.

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