ADAUSD Price Analysis – July 4
The market price is trading within the prior day’s range and unable to trade above the previous day’s high or below the prior’s days low forming an inside bar.
Supply Level: $0.040643, $0.057684, $0.066120
Demand Level: $0.105322, $0.098158, $0.090765
ADAUSD Long term Trend: Ranging
ADAUSD ran into sellers today, again around the same price level and missing to move the price higher than $0.0834, however close to the supply zone now turned minor resistance on the level at $0.08186.
The market may manage to close back above the demand zone on the level at $0.08186 above the moving average 5 areas, though it is still in a long term uptrend where the medium-term trend has now turned bearish already.
ADAUSD Short term Trend: Bearish
On the flip side, analyzing through the lens of the 4-hour time frame, selling might speed up should price move below the close by swing low on the level at $0.07614 where further sell stops could get triggered.
The shorter-term volatility is currently slightly higher than usual for the ADAUSD as inflows for more liquidity for the pair may give it stronger momentum to change its trend.
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