ADA Price Analysis for May 7

ADA current trend and price range

Figure 1 shows the daily trend chart of ADA/USDT, with two white horizontal ranges indicating the upper resistance range and the lower support range. Currently, the price is fluctuating within this range. Additionally, two yellow trend lines can be observed in the chart. Since mid-November 2024, the price has been fluctuating within this channel. In the future, if the price can break through this range accompanied by trading volume, there is a high probability of a significant market trend.

(Figure 1, Source: TradingView 2025.5.7)

ADA focus on target price

Chart 2 shows the 4-hour trend chart of ADA/USDT. After the price first fell below the lower edge of the yellow channel, it is currently in a state of retesting confirmation. Next, it is important to focus on whether the price can return to the channel and continue to fluctuate, or even return to a bullish trend as shown in the green path and achieve a breakthrough. However, if the price continues to fall after retesting confirmation, as shown in the red path, the price range to watch first is between $0.6 and $0.62.

(Figure 2, Source: TradingView 2025.5.7)

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Summary

ADA is currently in a consolidation range, with the next short-term support at the $0.6 - $0.62 range. If the price fails to hold above this support zone, caution is needed to prevent further downside risks; conversely, if the price can return to the upper trend channel accompanied by increased trading volume, a new wave of uptrend may be expected. The first target price to watch is the resistance zone at the upper edge of the channel. Flexibility is still required during this period, closely monitoring changes in price structure.