Key Support levels: $0.58
Key Resistance levels: $0.75
It’s shaping up to be another difficult day for ADA holders with sellers taking no break. The critical support at $0.75 has now turned into resistance after bulls were unable to defend this important level, with prices crashing over 10% over the past 24 hours.
The next level of support is found at $0.58, and ADA looks very weak at the time of this post.
Trading Volume: The volume is increasing, and this is the fifth daily candle in red for ADA. This confirms a strong ongoing bearish momentum.
RSI: The daily RSI is one point away from entering the oversold area at under 30 points.
MACD: The daily MACD remains firmly on the bearish side, with the histogram expanding lower as the selling volume increases.
The bias for ADA is bearish.
Short-Term Prediction for ADA Price
ADA has entered a very difficult stage in the bear market. The existing support levels until 40 cents are weak and don’t give much confidence for a reversal. The loss of the $0.75 level is a major defeat as sellers continue having the upper hand.
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
Download MAXBIT Android App, Your best source of all crypto news!
Share this article: