- Major support levels: $ 1.2, $ 1
- Key Resistance: $ 1.36, $ 1.5
ADA is still holding well above the critical support at $ 1.20. A signal that the bulls are absorbing selling pressure in this price zone. A break above the USD 1.36 mark signals a bearish turnaround.
Daily ADA / USDT Chart | Source: TradingView
Technical indicators
Volume: Volume continues to decline as ADA trades above the important support area. The prediction of a major upheaval is imminent.
RSI: The RSI has recovered from the oversold zone and is now flat. This shows that selling pressures have eased and a rally is expected.
MACD: The MACD in the daily timeframe has created a bullish cross and is going up. Support the short term recovery.
Daily ADA / USDT Chart | Source: TradingView
Perspectives
Price action and technical indicators suggest that ADA could rally in the next few days.
If so, the main resistance level to watch out for is $ 1.36. A break above this level confirms a short term downtrend reversal with the next target at $ 1.5.
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