ADAUSD Price Analysis – June 19
The pair has settled below the level at $0.09455 amid a strong downside momentum triggered by technical factors as ADAUSD breaks below Monday’s low.
Demand Levels: $0.10136, $0.09454
Resistance Level: $0.77167, $0.07005
ADAUSD Long term trend: Bullish
The analysis of the daily chart regardless of a strong opening has shown that the cryptocurrency closed below prior’s days open and close, forming a bearish pattern.Tuesday’s trading range has been (5.78%) and that’s slightly below the last trading daily average range.
Price broke below the key technical support zone on the level at $0.0926 which is likely to act as resistance going forward. The trend stays bullish with an intact uptrend in the long term.
ADAUSD Short term trend: Bullish
The pair ran into sellers again today on the level at $0.0935 for the third day in a row after having found sellers on the level at $0.0939 in the previous session.With prices trading close to June’s high on the level at $0.0979, the upside momentum might accelerate should ADA mark new highs for the month.
Selling could accelerate should prices move below the nearby swing low on the level at $0.8578 where further sell stops might get activated.
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