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ADA is trading

ADA is trading in a falling wedge, we may see a new ATH soon

The daily price chart shows that ADA is trading in a falling wedge, which means we may be able to see a new ATH of 3.85 very soon. When ADA exits from this falling wedge a trend reversal is expected.

ADA is currently trading at $1.973 with a 24h trading volume of 2.43 billion dollars. ADA price has not changed much in the previous 24h period with a live market cap of $65,554,256,280. ADA is holding the 5th position in the crypto market ranked by market cap and the price chart of the ADA has a lot of tails to tell.

Technical Analysis :ADA is trading in a falling wedge

The technical analysis tells us that ADA is trading in the falling wedge. The token has a support line at $1.87 but the falling wedge goes way down. The price chart of ADA clearly indicates that the token is not having great volumes spikes. ADA is trading in a falling wedge and it is considered as a trend reversal pattern and mostly turns into a bullish one. When ADA exits from this falling edge then the major resistance for the token is at $3.118.

ADA is trading
Pirce chart of ADA by Tradingview

The down part of the falling wedge matches with support level $1.87, on 27 October price bounced back from here. The exit from this falling edge can help the ADA to reach a new ATH at $3.85. DYOR.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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