$ADA is demonstrating a new bullish structure, powered by the Midnight Network launch today December 8. A bullish technical structure is gradually forming, paving the way for a solid recovery period.
š¹ Midnight Network is a privacy focused Zero know Sidechain using Hydra scaling solution, reaching 100,000 TPS in testnet conditions. This event is expected to boost the demand for ADA and expand network adoption.
šø On the daily 1D timeframe, $ADA broke the bearish structure after closing a candle above $0.439.
Demand Zone The $0.40 level was successfully identified (retested) over the weekend and increased by 4.9%.
Indicator Accumulation/Distribution has been rising steadily over the past 2 week, indicating that energy is quietly accumulating.
š¹ The current configuration support a slow but steady acceleration slow grind toward the $0.50 - $0.52 resistance zone.
The $0.44 - $0.45 zone may cause temporary difficulties for the Bull.
If the white blood cell price is $0.37, the structural strengthening will be completely invalidated.
With the new technology platform and supporting hardware at $0.40, ADA has the basis to break out.
In your opinion, is Midnight Network the trump card to help $ADA return to the $0.70 light?
Follow Trading Insight_Research to update the next variables. News and information are for reference only, not investment advice. Please read carefully before making a decision.
