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This was followed by a sharper and steeper drop—dubbed the bump phase—in early April, when ADA plunged below $0.52. This panic-driven decline likely exhausted most sellers, as volume spiked and sentiment reached capitulation levels.
Following this low, ADA staged a strong rebound, breaking above the descending trendline to confirm the run phase of the pattern. Notably, the rally also pushed the price above its 50-period exponential moving average (50-day EMA; the red wave), increasing the likelihood of a sustained upside continuation.
Cardano is in a throwback phase, retesting the broken trendline as new support. This price action aligns with classic BARR behavior, where a brief pullback often precedes the next leg up.
According to the structure of the BARR pattern, the expected upside target lies near $0.799, up around 25% from the current price levels.
Adding to the bullish sentiment, the Relative Strength Index (RSI) has recovered above the neutral 50 level, suggesting growing buying momentum. A daily close above the 200-period EMA near $0.674 would further confirm a bullish market structure shift.
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