ADABTC Price Analysis – June 21
ADABTC falls to lowest close Since December 16, 2018, and finds buyers at key support level where the pair had closed lower earlier for the 8th day in a row also breaking Wednesday’s low.
Demand Level: 0.0001100, 0.0000996
Supply Level: 0.0000903, 0.0000800
ADABTC Long term trend: Bearish
Moving lower for the 8th day in a row, ADABTC finished Thursday at 0.00000917 losing BTC0.00000050 (-5.17%). Today’s close may also mark the lowest recorded closing price since December 16, 2018. Closing below Wednesday’s low at 0.00000964, ADA confirmed its breakout through the previous session low after trading up to BTC0.00000075 below it intraday.
The failure to close below the support might increase that levels importance as support going forward and the trend is bearish, showing an intact downtrend in the long-term.
ADABTC Short term trend: Bearish
After trading down to 0.00000889 earlier during the day, the market bounced off the key technical supply level at 0.00000911. The failure to close below the support might increase that levels importance as support going forward.
This could either indicate a potential selling climax after which prices might head back up towards the crossing of the moving average on the level at 0.00001139 or signal the beginning of a strong momentum breakout leading to even lower prices.
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