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Cryptocurrency News Articles
Litecoin (LTC) and Cardano (ADA) Technical Analysis: LTC Eyes $260, ADA Aims for $1
Jan 30, 2025 at 02:02 pm
Currently, Litecoin trades around $126, with the next major Fibonacci retracement resistance at $178. However, based on the bull pennant’s measured
Now, as price action attempts to rally back up toward the upper trendline, forming a "running man" candle, it could propel ADA toward a potential target of $1, aligning with the height of the BARR pattern from its bottom.
However, if ADA fails to sustain this breakout and close below the upper trendline, further bearish pressure could emerge, potentially leading to a retest of lower support levels before any additional upside.
Crucial Fibonacci levels also provide potential support and resistance zones throughout ADA’s bullish breakout.
The next major Fibonacci retracement support is located at $0.618, aligning closely with the four-hour demand zone, while the next critical resistance level lies at the 0.786 Fibonacci level.
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The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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