Technical analysis by GoneLiminal about Symbol ADA: Buy recommendation (8/5/2025)

Daily timeframe Chart peek. ADA continues to match the top ten in performance as the market remains volatile. Over the weekend ADA has bounced from the recent lows and found support around .72 level and continues to follow crypto daddy $BTC. As BTC fluctuates ADA mimics and is currently moving between .76 and .72 The possibility of a retest to the .65 level remains possible however it has found support at the bull market support bands and 200 Day moving average after a textbook retest of that level. ETH XRP SOL are all moving in similar ways as the market waits for clarity before moving lower or higher. BTC.D remains higher than Altcoin holder would like, at time of publication it holds 61.72 and is range bound between the 200 day moving average at 62.78 and the lower trend line at 60.85 all eyes should watch BTC.D as a fall below the lower trend could signal the awaited alt season as rotation from BTC moves to Alts. Bullish case: ADA is bullish as it has completed a retest and looks poised to continue the trend upwards, once we gain some market clarity. ADA has approx 83% chance of ETF approval by end 2025 according to poly market and the Glacier drop date is to be release in August both of which are major catalysts for ADA adoption and price action. 70 Million was voted to support IOG in further developments on the blockchain. Bearish case: Alt season is cancelled, Santa clause is not coming this year. most likely due to BTC continuing to dominate the market and sentiment in which case I see Cardano being stuck in a much larger zig zag accumulation phase in its current long term range of .48 - 1.00 until further developments ETF and interest develop. I remain Bullish Until the chart shows me its not. on a side note as ADA is not as flashy of attention seeking as other chains it often breaks away when least expected due to strong fundamentals and community. it is only a matter of time. I like crayons.