ADAUSD Price Analysis – July 5
ADA ended Thursday on the level at $0.0773 and coasting below almost -0.7%, while today’s close may mark the lowest closing price since May 13th.
Supply Level: $0.040643, $0.056812, $0.064267
Demand Level: $0.105322, $0.098158, $0.090765
ADAUSD Long term Trend: Bearish
Crossing below the moving average on the level at $0.076142 to test the farther lower supply zone on the level at $0.064267, its price has shown an unusually strong downward momentum though in the short term.
This could either indicate a potential selling climax after which price may head back up towards the upper zone of the moving average on the level at $0.081869 or signal the beginning of a strong momentum breakout leading to even lower price.
ADAUSD Short term Trend: Bearish
The selling of the ADAUSD could speed up should the price move below the close-by swing on the level at $0.076142 where further sell stops might get activated.
The statistics for the demand and supply based market condition as seen on the 4-hour time frame through the moving average has shown bearish for ADAUSD.
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