ADAUSD Price Analysis – July 12
The pair recovers after moving lower for the 3rd day in a row as the ADAUSD pair finished Thursday at a negative (-9.30%), but the ADAUSD pair has bounced up today, retracing from the fall and has defied bottoming at the low.
Supply Levels: $0.0400 $0.0568, $0.0644
Demand Levels: $0.1053, $0.0981, $0.0907
ADAUSD Long term Trend: Bearish
The bulls were in full control today moving the market higher throughout the whole trading activity today, as the trend has been bearish for a while and showing an intact downtrend in the longer term.
Although Thursday’s trading range has been about 12.57% and that is slightly above the market trading range compared to last month with the present month.
ADAUSD Short term Trend: Bullish
On the flip side of the 4-hour time frame after trading as high as the level at 0.7117 during the day, the ADAUSD has found a minor barrier on the upside and above the moving averages.
The crossing of the moving average 5 on the moving average 13 where the price has shown an unusually strong upward momentum in the short term has the trend has turned bullish after the recent fall.
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