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Cryptoknowmics 2022-07-11 17:55:33

ADA Technical Analysis: ADA Set to Break Lower Lows Overnight

Technical Points: ADA technical analysis shows bearish trends. ADA/USD is currently trading at $0.446. ADA/USD found resistance at $0.525. Past Performance of ADA ADA technical analysis is bearish in the short-term, with the cryptocurrency trading below its key 200-period moving average on the four-hour time frame. The ADA/USD pair has also formed a bearish head and shoulders pattern, with a downside target of $0.446. On the downside, ADA/USD has initial support at $0.446, followed by the $0.415 level. Below this, further support is located at the $0.400 and $0.382 levels. On the upside, resistance is at the $0.479 and $0.525 levels. Above this, further resistance is located at the $0.545 and $0.565 levels. On the upside, ADA/USD has initial resistance at the $0.479 and $0.525 levels. Above this, further resistance is located at the $0.545 and $0.565 levels. Source-Tradingview ADA Technical Analysis The Bollinger bands are wide on the four-hour chart, which suggests that ADA/USD is currently in a period of high volatility. The 200-period moving average is flatlining, which suggests that the long-term trend is bearish. However, the Relative Strength Index (RSI) is bullish as it trades in overbought territory. The MACD indicator is also bullish but is bearish on the four-hour time frame. A move below the $0.446 level could see ADA/USD retrace towards its recent lows at $0.423. Upcoming Trend If the ADA/USD pair falls below the $...

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