Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

Cryptoknowmics 2022-07-02 15:36:06

ADA Technical Analysis: The Coin Hangs In The Balance Of $0.33

After the last powerful blow by sellers with the weekly candle of 9 May, the ADA market stopped in consolidation. In fact, buyers could not organize a rebound of the price upwards and correct the local fall wave from April 2022. Although everything started quite well. On 30 May, buyers absorbed the previous candle of sellers and gave a hint about the readiness to continue the growth of the ADA price to $0.93. The new trading month completely beat all odds and narrowed the ADA consolidation range to 10%. Source: https://www.tradingview.com/x/3563ihyj/ Now, sellers are trying to break the lower limit of consolidation – $0.44 mark. If the price is successfully fixed below $0.44 on the weekly timeframe, sellers will open their way to the next target of $0.33. This mark on the history shows that the ADA price stopped for about 4 weeks before continuing its crazy uptrend. Of course, a stop for 4 weeks is an indicator of a strong liquidity zone. However, the fact that the approaching of the ADA price to the $0.33 mark caused problems for sellers indicates a high probability of a reversal from this mark. This is our negative scenario. However, after keeping the $0.44 mark, buyers will still have a chance to rebound to $0.93. ADA Technical Analysis On The Daily Timeframe Source: https://www.tradingview.com/x/JCN8U5kJ/ Analyzing the movement of the ADA price in this timeframe, one can notice stable and effective pressure from sellers on...

freebitcoin
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.