ADAUSD Price Analysis – June 17
In a trending upward movement again for several days in a row, the pair ended Sunday positively within the level at $0.0924 and closing the prior day’s range, the prices missed to decisively move beyond previous day’s trading range in a very uninspiring momentum, thus lacking the energy to proceed upward.
Resistance Level: $0.101230, $0.094701
Support Level: $0.077482, $0.060071
ADAUSD Long term trend: Bullish
Lacking in momentum to break upward through the key technical resistance level at $0.0947 ADAUSD closed below it after spiking up to the level at $0.0944 earlier on during the day. The failure to close above the resistance could increase the importance of the level of present price level at $0.0926 going forward.
The pair is lacking in a downward movement and it is bullish and all it is showing is an intact appetite for the uptrend in the long term.
ADAUSD Short term trend: Bullish
The pair found buyers again around the same price level today at $0.0915 and further buying could move the prices higher should the market test Mays close. Looking at the pair in the 4-hour chat we see that the pair is having 3 consecutive higher closes.
The momentum towards the resistance has bounced off the technical line of the level at $0.0947 so far the pair have remained bullish and buyers are taking the advantage to square up their positions to also in the short term go with the trend.
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