ADAUSD Price Analysis – July 13
The bears are in the driver seat as ADAUSD nears the level at $0.56 support territory as the market responded to the crypto’s fundamentals by stringing together three bearish days. And the price has gone down from the level at $0.0981 to the level at $0.0632.
Supply Levels: $0.0400 $0.0568, $0.0632
Demand Levels: $0.1053, $0.0981, $0.0907
ADAUSD Long term Trend: Bearish
The market has found support on the downward supply zone on the level at $0.0632 below the moving average 5, while it is also trending comfortably above the level at $0.0568.
In the bigger picture, the bears will want to ride this momentum and enter the supply zone on the level at $0.0568 territory and the RSI is indicating a sharp move downwards as price flirts with the lower horizontal line.
ADAUSD Short term Trend: Bearish
The relative strength index indicator on the 4-hour time frame is trending below 60.0, and ADAUSD is unable to break below key supply zone on the level at $0.0632 but yet the trend is bearish and showing an intact downtrend in the short and medium term.
ADAUSD finds buyers again around the supply zone on the level at $0.0632, indicating higher volatility with increasing intensity following the consecutive bearish run while the price is diverging away to the upside area from the supply zone on the level at $0.0632.
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