Technical analysis by taika808 about Symbol ADA: Buy recommendation (8/14/2025)

Cardano is showing strong bullish potential after breaking out from a long-term trendline that had been acting as resistance since 2022. The recent price action demonstrates a clear shift in momentum as bulls have successfully reclaimed control above key support levels. Key Technical Observations: Clean breakout from multi-year resistance zone Price holding above the green support zone around $0.64 Strong volume confirmation during the breakout phase RSI showing healthy momentum without being overbought Potential Long Setup: Entry: Current levels or on any pullback Target 1: $1.30 (previous resistance level) Target 2: $2.72 (major resistance zone marked in red) Stop Loss: Below $0.64 support Risk Considerations: The projected move to $2.72 represents significant upside but would require sustained buying pressure. Any failure to hold above the breakout level could signal a false breakout. The crypto market's volatility demands careful position sizing and risk management.