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The first instance occurred in August 2023 when ADA tested the same trendline and rallied nearly 250% toward $0.82.
A similar event followed between July and November 2024, when the token temporarily broke below the trendline, only to reclaim it and surge by approximately 265%, peaking just below $1.20.
The pattern of reclaiming and bouncing from this support suggests that ADA may be preparing for another bullish move, potentially toward the channel’s upper boundary.
The 50-week exponential moving average (EMA), currently around $0.617, is also providing immediate support.
Meanwhile, the Relative Strength Index (RSI) is hovering near neutral levels (~49), suggesting that ADA has sufficient room to climb without triggering overbought signals.
That said, failure to hold the lower trendline support could invalidate the bullish fractal and open the door for deeper corrections, potentially toward the 0.382-0.236 Fib retracement range, aligning with the $0.326-0.212 area.
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