Cardano ADA Breaks Out Above Key Resistance

Cardano's ADA token has been steadily climbing along an ascending trendline for weeks, using it as support on every dip. This week, price is testing $0.1999, a level that capped ADA before.

A close above this level would confirm the breakout and open the path toward $0.2205 and $0.2322, representing 12.7% and 18.8% gains from the current price of $0.1956.

Shorts have dominated liquidations across various time windows, fitting a coin that broke a falling structure and continued to climb.