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ADA looks ready to rebound, as the TD Sequential indicator flashes a buy signal on the 4-hour chart. Will ADA rise further and reach higher targets? Cardano [ADA] was forming a symmetrical triangle at press time, indicating a consolidation phase before a potential breakout. This triangle pattern is a typical precursor to a significant price move. This further suggests that ADA may break out towards higher levels once the apex is reached. Source: Coinglass The price action within the triangle indicated a balance between buying and selling pressures, but the eventual breakout is likely to provide the necessary momentum for a surge. Moreover, the EMA cross visible in the showed that the 9-period EMA was above the 26-period EMA, signaling a bullish crossover. This suggests that the short-term trend is turning upward, further supporting the possibility of a breakout. The cross implies a shift in momentum toward the buyers, indicating that ADA might soon experience a price increase. The Crypto Fear & Greed Index at 51 further confirms the neutral sentiment, which aligns with the stability within the triangle. Although this index does not signal extreme bullishness, it reflects a cautious optimism that may push ADA higher as market conditions stabilize.  A reversal on the horizon Also, per analyst Ali Martinez, he TD Sequential indicator flashed a buy signal (A13) on ADA’s 4-hour chart. The TD Sequential is used to identify trend exhaustion points and potential reversals. Source: Ali Charts Therefore, the appearance of a buy signal indicates that the bearish trend might be coming to an end for bullish reversal. This aligns with the price action and the EMA crossover, supporting the case for ADA to break out from its consolidation and head towards higher targets of $0.85 and $0.90. Can short squeezes drive ADA higher? Sequentially, ADA’s liquidation…

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Filed under: News - @ February 17, 2025 4:18 pm