ADAUSD Price Analysis – June 24
ADAUSD’s price stayed above the level at $0.0853 medium-term supply trend line and recently broke the level at $0.0980 and level at $0.1000 upside area. The pair’s price is trading nicely above $0.0940 with many hurdles near the level at $ 0.0980 and $0.1000.
Supply Level: $0.0972, $0.0853, $0.0774
Demand Level: $0.1100, $0.1055, $0.1012
ADAUSD Long term Trend: Bullish
After trading down to $0.0935 earlier during the day, the cryptocurrency bounced off the key technical supply level at $0.0972. We see more inflows sustaining the upward momentum of the pair.
The failure to close below the supply level might increase that levels significance as demand level going forward.The trend is bullish and showing an intact uptrend in the long term.
ADAUSD Short term Trend: Bullish
Today’s trading range has been $0.0117 (0.47%) that’s far above the last trading months daily range of $0.00060.Two candlesticks pattern are matching today’s price action and the last time bullish candle showed up, ADAUSD gained 24% on the following trading day.
As seen on the 4-hour chart, the pair finds buyers at key supply level at $0.0947 but unable to break through key demand level at $0.1012 and the 4-hour chart is bullish on the medium term for the ADAUSD.
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