ADAUSD Price Analysis – July 9
The pair is yet to break past its restricted area in the crypto sphere but only able to retain a positive bias after participants sentiment sees a near term bullish run. ADAUSD is still stuck within the prior day’s range and may close within it.
Supply Level: $0.0568, $0.0642, $0.0761
Demand Level: $0.1053, $0.0981, $0.0907
ADAUSD Long term Trend: Bearish
Today’s trading range has been lower than Monday’s range and the volatility is also lower, being below the markets average trading range and this condition is interpreted as bearish.
The price of ADAUSD has continued to consolidate within a tight range between the demand zone on the level at $0.0870 and the supply zone on the level at $0.0761 where it is stuck presently.
ADAUSD Short term Trend: Bearish
On the flip side, while putting into consideration the formation of the candlestick pattern matching today’s price action, selling could accelerate should price move below the nearby swing low on the level at $0.0761 where further sell stops might get triggered.
Although the shorter term volatility is currently slightly higher than usual for the ADAUSD, while still in a long term uptrend, the short and medium term trends both turned bearish already.
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