ADAUSDT.P is in the distribution phase after exiting consolidation. The coin continues to update local lows within a downtrend.Technically, the cryptocurrency market is in stagnation/correction, as there is no bullish driver yet. Bitcoin is currently consolidating but continues to shoot local downward impulses, which generally has a negative impact on coins.
ADA is entering a distribution phase of accumulation formed in the range of 0.62 - 0.71. If the bears keep the price below 0.62-0.6, ADA may well test the intermediate bottom of 0.5364-0.51
Resistance levels: 0.61, 0.62
Support levels: 0.5993, 0.5364
Focus on 0.61 and the local level of 0.5993. Price consolidation below this zone could confirm the bearish nature of the market, which could lead to another decline.
Best regards, R. Linda!
Trade active
Local support/trigger appears. A break of 0.5891 could trigger a further decline.
Trade closed: target reached
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🌹TRADING is a CASINO💔!?
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.