ADA Fights to Break Out as Analysts Debate Future Price Trends
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ADA bounced recently but failed to sustain most of the increase; it's trying to break out from a descending resistance line.
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ADA had been trading within a range since November 2022, with support and resistance levels confirmed several times.
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In October 2023, ADA broke out upward, reaching a new yearly high in December before declining again.
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Some analysts are bullish on ADA's future trend, with price targets between $0.80-$0.90 if certain technical levels are broken.
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Falling below $0.46 would invalidate the bullish setup for ADA, allowing prices to decrease 28% towards support at $0.40.