ADA, a cryptocurrency in turmoil – L’AT du Lundi

cryptocurrency ADA is always in the top 10 cryptocurrencies the most important on the market. While the price is falling, so is the rest of the market. So, what is the current ADA situation and what are the levels to look at? Discover a full analysis of the asset in this new Monday AT.

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ADA Bounced On An Important Level

Price of ADA vs. Dollar Weekly Scale (1W)

After an all time high on $3.1, ADA went into a downward motion. Currently this is still the case. After bouncing the $0.39 (earlier resistance), ADA made a bearish retest of the EMA 13 and EMA 200 merging with resistance. So it is currently moving towards its local support at $0.39. If it loses this level, there will be more to resist a price drop towards a former resistance at $0.16.

So, to hope to witness another run, the price will have to overcome the confluence of resistances at $0.54-0.567. In the event that this scenario were to occur, it will be necessary to monitor both the EMA25 and the previous support. However, we are far from it and given the state of US indices, it is complicated to project such a scenario.

ADA is still in a reach situation

Price of ADA vs. Dollar Weekly Scale (1W)

On the daily scale, ADA is in a range configuration, it evolves between an upper bound and a lower bound which act as resistance and support respectively. the . have lost POC The past few days I’ve been finding it interesting to see what price action will be this week. If there is an acceptance of POC if a resistor with a loss of the low terminal, it will likely be a return to 0.397 dollars for us.

However, if it manages to overcome it on the positive side, the asset can return to the blue zone, which is a High volume node (0.495/0.5 dollars). This level can act as a resistance and prevent the price from bouncing to higher levels. In addition, the EMA 13 and 25 as well as the MA 100 converge at this level, reinforcing the latter’s relevance as a potential resistance.

ADA in big trouble against bitcoin

ADA price against bitcoin on a daily scale (1D)
ADA price against bitcoin on a daily scale (1D)

Currently the asset is not in excellent condition relative to the king of cryptocurrencies. You can see it has performed a bearish retest of the EMA200 on several occasions, with the latter merging for a major technical zone. Rather, ADA managed to pull out of the game by staying above the MA100 which is currently merging with a support.

However, as this analysis is being written, ADA is losing both its support and this MA100. Is this the signal of greater asset underperformance? If ADA closes sharply below this level and fails to regain it, it is entirely possible to get a price return to 1988 satoshis. Depending on the direction taken, the asset will be more or less resilient to: Bitcoin’s downward movements.

Whether it’s against the dollar on various timeframes or against bitcoin, ADA is at a key moment that will determine the direction it will take in the coming weeks (or maybe it will just continue to move through the range). Faced with bitcoin, he is not allowed to let go and show that he is still there. Otherwise, ADA becomes a relatively weak asset that will fall sharply when bitcoin struggles. smonitor key levels and let’s see if the price action in the coming days will allow ADA to recover.

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