ADA is at risk of breaking key support and making fresh yearly lows
Although ADA has found solid support at the critical $0.84 level for the past few days, it has also failed to move higher. This consolidation will likely end with a big move soon.
- Major support levels: $0.84, $0.68
- Major Resistances: $1, $1.1
As seen in the chart below, after rejecting at the key $1 level last week, ADA fell quickly to retest $0.84. If buyers do not push the price higher soon, sellers can take the opportunity to break below the critical support and target the next major support at $0.68.
Daily ADA/USDT Chart | Source: TradingView
Technical indicators
Volume: Very low trading volume in the last two days. Keep a close eye on price action and volume on Monday as the new week begins. ADA could fall lower if fear persists in the market.
RSI: The daily RSI has made a higher low since hitting 30 but failed to make a higher high. This brings ADA to a pivotal moment.
MACD: The daily MACD is preparing for a bearish cross. In that case, ADA can drop to the next key support at $0.68.
Daily ADA/USDT Chart | Source: TradingView
perspectives
The current bias is neutral.
Short term prediction
ADA looks weak and sees no demand at current levels. Therefore, the $0.84 support is likely to be broken. The current crypto market sentiment is quite bearish, which could push ADA lower this week.
You can see the ADA prices here.
We invite you to join our Telegram for faster news updates: https://t.me/coincunews
Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
SN_Nour
According to Cryptopotato
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Author
Market
ADA is at risk of breaking key support and making fresh yearly lows
Although ADA has found solid support at the critical $0.84 level for the past few days, it has also failed to move higher. This consolidation will likely end with a big move soon.
- Major support levels: $0.84, $0.68
- Major Resistances: $1, $1.1
As seen in the chart below, after rejecting at the key $1 level last week, ADA fell quickly to retest $0.84. If buyers do not push the price higher soon, sellers can take the opportunity to break below the critical support and target the next major support at $0.68.
Daily ADA/USDT Chart | Source: TradingView
Technical indicators
Volume: Very low trading volume in the last two days. Keep a close eye on price action and volume on Monday as the new week begins. ADA could fall lower if fear persists in the market.
RSI: The daily RSI has made a higher low since hitting 30 but failed to make a higher high. This brings ADA to a pivotal moment.
MACD: The daily MACD is preparing for a bearish cross. In that case, ADA can drop to the next key support at $0.68.
Daily ADA/USDT Chart | Source: TradingView
perspectives
The current bias is neutral.
Short term prediction
ADA looks weak and sees no demand at current levels. Therefore, the $0.84 support is likely to be broken. The current crypto market sentiment is quite bearish, which could push ADA lower this week.
You can see the ADA prices here.
We invite you to join our Telegram for faster news updates: https://t.me/coincunews
Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
SN_Nour
According to Cryptopotato
Follow the Youtube Channel | Subscribe to the Telegram channel | Follow the Facebook page
