ADAUSD Price Analysis – June 28
ADAUSD exits the previous session on the level at $0.0843 (-12.64%) on a high volume. This is the biggest single-day loss in over eight months. The last time an event similar to such an unusually strong single day loss, ADAUSD recovered gaining 8.68% in the next session.
Supply Level: : $0.066120, $0.075094, $0.087051
Demand Level: $0.120000, $0.110000, $0.105322
ADAUSD Long term Trend: Bullish
The bears were in full control today and moving the market lower throughout the whole session. ADAUSD has confirmed its breakout towards the prior session low after trading up to the level at $0.090765 below intraday.
The longer-term volatility is currently slightly higher than usual for ADAUSD, although the market is currently in a short – term downtrend, this could just be a correction as both the medium and long term trends are still bullish.
ADAUSD Short term Trend: Bearish
As price is trading close to the lows towards the supply zone on the level at $0.081869 as shown on the 4-hour chart, the downside momentum might speed up should ADA mark new lows for the month.
After trading down to the level at $0.081869 earlier during the day Cardano bounced off the key technical supply zone to the level at $0.087051. The failure to exit below might increase the levels of significance as support going forward.
Note: Dapplife.com is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results