ADAUSD Price Analysis – July 1
ADAUSD has finished the month of June almost at -9.0% lower than the previous day. The last day of the month closing marks the lowest recorded closing price since June 9, and this may confirm a breakout to the south side zone of the pair.
Supply Levels: $0.039485, $0.060071, $0.077482
Demand Levels: $0.101230, $0.097297, $0.094701
ADAUSD Long term Trend: Bullish
ADAUSD is dominated by bears and they are dragging the market lower as the pair started the session on the low, while participants look for fresh opportunity.
The pair ran into sellers again around the level at $0.0903 for the umpteenth time and while the market is currently in a short term downtrend, the medium and long term overall trend stays bullish.
ADAUSD Short term Trend: Bearish
On the flip side, as the price is trading close to June’s low on the level at $0.0774, the downside momentum could speed up should Cardano mark new lows for the month.
This might just be a correction and it might either indicate a potential selling climax, showing an unusually strong downward momentum in the short term.
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