ADAUSD Price Analysis – July 11
ADAUSD falls to the lowest price since 12th May 2019 and has been dominated by bears, dragging the market lower all through the day, although increasing in liquidity it has recorded balanced growth on the exchange.
Supply Levels: $0.0400 $0.0568, $0.0644
Demand Levels: $0.1053, $0.0981, $0.0907
ADAUSD Long term Trend: Bearish
In the bigger picture, the pair has moved lower for the 3rd day in a row and today’s closing price may mark the lowest recorded since May 12th, 2019 and one bearish candlestick pattern matched today’s price action.
The pairs close on Wednesday have been on the low around the level at $0.0649, ADAUSD has confirmed its breakout through the previous days trading after easing past the supply level now turned demand zone on the level at $0.07614 below intraday.
ADAUSD Short term Trend: Bearish
Things may look different on the 4-hour time frame, where the market trading range of the day has been slightly below the market average trading range.
The shorter-term daily volatility is also currently slightly higher than usual for ADAUSD as the trend is bearish and showing an intact downtrend in the short and medium term.
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