Cardano Price Stuck at Trendline Breakout Zone

The price of Cardano (ADA) has been hovering around $0.1706 after breaking above a descending trendline on the 4-hour chart. This breakout happened earlier, but ADA is currently stuck at the trigger zone instead of pushing higher.

According to CoinGlass's liquidation data, longs have dominated the past hour and 24 hours, with shorts taking more pressure in the 4-hour window. The heavy long liquidation across both timeframes suggests that late sellers are getting caught out as price holds the breakout zone.

The trendline sustained on the third tap is seen as a significant signal by CoinGabbar's Technical Analyst View, indicating that buyers have finally held their ground after weeks of rejection lower. However, the breakout has not been confirmed with a decisive close yet.